PSX Rebounds as KSE-100 Jumps 1,284 Points in Thursday Trade
KARACHI, PAKISTAN — WEB DESK: The Pakistan Stock Exchange staged a strong mid-session rebound on Thursday, with the benchmark KSE-100 Index gaining more than 1,280 points as investors returned to equities following the previous session’s sharp decline.
By early afternoon, the KSE-100 had climbed 1,284.36 points, or 0.76%, to 169,306.16, compared with Wednesday’s close of 168,021.80. The index touched an intraday high of 169,576.52, while its session low stood at 168,222.91. Importantly, the market was still open, meaning these figures were not final closing levels.
Business Recorder independently reported a nearly identical move around midday, placing the benchmark at 169,303.71, up 1,281.91 points or 0.76%.
Buying was visible across several heavyweight sectors, including commercial banks, cement, oil and gas exploration, refineries, automobile assemblers, oil marketing companies and power generation. Lucky Cement, MCB, Meezan Bank, National Bank, UBL, Mari Energies, OGDC, PPL, Pakistan Oilfields and Attock Refinery were among major stocks trading higher.
The rebound followed Wednesday’s sell-off, when the KSE-100 dropped 1,370.52 points, or 0.81%, to 168,021.80. Elevated international oil prices and continued geopolitical uncertainty in the Middle East had weighed heavily on investor sentiment.
Recent market volatility has been closely tied to developments in the Middle East and energy markets. High crude prices have raised concerns about Pakistan’s fuel costs, inflation, import bill and external-account position.
Thursday’s recovery also came as oil prices eased modestly from recent highs and Asian equities strengthened. The Express Tribune reported that investors appeared to be seeking value following the recent market correction.
The US Federal Reserve’s overnight decision to raise interest rates for the first time since 2023 also formed part of the international market backdrop.
Despite Thursday’s rebound, investors remained cautious. Risks surrounding the Strait of Hormuz, elevated energy costs and pressure on Pakistan’s external accounts continue to influence sentiment, while the selective nature of buying suggests uncertainty has not disappeared.
The KSE-100’s final performance will depend on trading during the remainder of Thursday’s session. The 1,284-point increase should therefore be reported as an intraday gain rather than the market’s closing result.
