The Pakistan Stock Exchange (PSX) extended its bullish momentum on Wednesday as investor sentiment improved amid easing global oil prices and optimism surrounding geopolitical developments in the Middle East, with the benchmark KSE-100 index jumping 1,934.74 points, or 1.19%, to settle at 164,831.42.
The market presented a mix of volatility and caution during the session, moving between an intraday high of 165,081.70 and a low of 162,895.74.
Earlier at around 9:39 am, the index climbed to 162,940.75 points, gaining 44.07 points, or 0.03%, shortly after trading commenced. As the session progressed, the market maintained a steady upward trajectory, reflecting measured buying activity across key sectors, despite being in a subdued mood.
Investor interest remained visible in automobile assemblers, cement, commercial banks, oil and gas exploration companies, and power generation stocks, helping the market sustain its upward trajectory.
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Market sentiment was further supported by developments in global oil markets. Oil prices slipped nearly 1% on Wednesday after US President Donald Trump reiterated that the conflict involving Iran could conclude “very quickly.” However, investors continued to closely monitor the outcome of ongoing peace negotiations amid lingering concerns over disruptions to Middle Eastern oil supplies.
KTrade Securities’ Ahmed Sheraz wrote that the KSE-100 index closed at 164,831 points, gaining 1,934 points (+1.19% DoD), as selective buying returned and helped the market recover despite activity remaining subdued. Trading volumes stayed on the thinner side, with 172 million shares traded in the KSE-100 universe, extending the recent trend of softer participation as investors largely stayed on the sidelines awaiting fresh triggers ahead of the upcoming Eid holidays.
Volumes remained concentrated in a handful of names, with SSGC (25 million), Bank of Punjab (24 million), and Cnergyico PK (15 million) leading activity. The relatively quiet tape continues to reflect a market lacking strong domestic catalysts, while the seasonal slowdown linked to the approaching Eid break has further reduced risk appetite and near-term positioning.
Sector-wise, the rebound was led by commercial banks, fertilisers, exploration & production, oil & gas, and technology. Major index support came from FFC, UBL, MEBL, Engro Holdings, Oil & Gas Development Company, Pakistan Petroleum, Hub Power, and Systems Limited, with blue-chip accumulation helping lift the benchmark despite broader participation staying narrow.
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Going forward, the market is likely to remain volatile and range-bound in the near term. Global headlines continue to dominate sentiment, particularly elevated oil prices, uncertainty surrounding US-Iran negotiations, and concerns around Strait of Hormuz developments, all of which remain important variables for import-dependent economies such as Pakistan. Until clearer direction emerges externally and local participation improves post-Eid, Sheraz expected sentiment to remain news-driven rather than fundamentally led.
Cumulatively, trading volume decreased to 386.3 million shares from Tuesday’s volume of 391.9 million. The value of traded shares stood at Rs20.1 billion. Shares of 483 companies were traded. Of these, 302 stocks jumped higher, 141 declined, and 40 remained unchanged. Sui South Gas was the volume leader, with trading in 25.2 million shares, gaining Rs0.71 to close at Rs25.93.Latest News, Breaking News & Top News Stories | The Express TribuneOur CorrespondentRead More