Pakistan’s benchmark index reaches an intraday high above 166,877 points before profit-taking trims gains, with renewed buying supporting a positive close.
Web Desk: The Pakistan Stock Exchange (PSX) extended its recovery on Thursday, with the benchmark KSE-100 Index gaining 768.66 points, or 0.46%, to close at 166,186.16 points after climbing more than 1,400 points during intraday trading.
The index reached an intraday high of 166,877.01 points before selling pressure trimmed its advance in the second half of the session. It had touched an intraday low of 165,613.11 points.
The latest gains followed a positive session on Wednesday, when the benchmark advanced 641.07 points to settle at 165,417.51.
The market’s performance reflected renewed buying interest in selected stocks, although the retreat from the session’s peak indicated that investors continued to book profits at higher levels.
KSE-100 rises above 166,800 points intraday
The benchmark maintained upward momentum during the morning session, moving above the 166,000-point mark as buying activity supported the market.
According to The Express Tribune, the index stood at 166,830.69 points around midday, up 1,413.19 points, or 0.85%, from the previous close.
The index subsequently reached an intraday high of approximately 166,877 points before retreating from that level.
By the end of trading, the KSE-100 had settled at 166,186.16 points, retaining a gain for the session but closing well below its intraday peak.
Previous session’s recovery supports market momentum
Thursday’s advance followed a recovery on Wednesday, when the benchmark gained 641.07 points to close at 165,417.51.
The earlier session had been volatile, with the index falling to an intraday low of 164,060.34 before recovering as investors bought selected shares.
The two consecutive positive closes indicate that the benchmark recovered some ground following recent market weakness. However, the gains alone do not establish whether the recovery will continue in subsequent sessions.
Trading activity remains in focus
During Thursday’s midday trading, market volume reached 112.76 million shares, with traded value reported at Rs6.84 billion.
Those figures represented activity at the time of the midday report, rather than the final full-session totals.
Later reporting showed that total turnover in the ready market reached approximately 517.6 million shares, with traded value of about Rs23.57 billion. The market-wide figures should not be confused with the midday totals or the volume of the KSE-100 constituent stocks alone.
Investors continue to monitor market conditions
Investors remained attentive to domestic political developments, international oil prices and broader economic conditions as trading progressed.
Recent market commentary has identified geopolitical uncertainty and fluctuations in oil prices among the factors influencing investor sentiment. Selective buying in major stocks has also contributed to recent recoveries.
However, the available market data does not establish that any single political or economic development caused Thursday’s advance.
The KSE-100’s positive close provides evidence of a recovery during the session, while the retreat from the intraday high highlights the continuing importance of selling pressure and investor positioning.
Market participants will continue to monitor trading activity and economic developments for indications of whether the benchmark can sustain its upward momentum.
