KARACHI
\nThe Pakistan Stock Exchange (PSX) put on an impressive show on Wednesday as the benchmark KSE-100 Index staged a strong rally, with buying gathering pace in the final hours to push the market higher despite lingering concerns over monetary tightening and rising international oil prices. The benchmark registered a significant gain of 1,269.55 points, or 0.77%, and settled at 165,736.76.
\nThe market opened on a steady note and quickly advanced, reaching 164,830.55 points, up 363.35 points, or 0.22% within minutes of the opening bell. It touched an intraday high of 166,100.34 and a low of 164,355.83 as investors returned to the market and buying gathered speed late in the session.
\nAmong major contributors, Fauji Fertiliser led the rally following an attractive Rs18.5 per share dividend announcement, with its results broadly in line with expectations. National Bank followed with a decent earnings outcome, while Hub Power also supported the index after announcing a Rs5 per share dividend. MCB and Bank Al Falah were among the other notable performers.
\nMarket sentiment continues to improve following SBP\u2019s 50 basis points policy rate hike to 12%, which was lower than earlier expectations of a steeper increase. This has supported banking stocks, while cyclical sectors have also witnessed renewed buying interest, allowing the market to consolidate at higher levels.
\nInternationally, Asian equities advanced on optimism surrounding artificial intelligence and ahead of earnings announcements by major United States companies. The positive tone in regional markets offered support to investor sentiment, although geopolitical risks continued to cloud the outlook. Oil prices, meanwhile, remained a major concern.
\nAhmed Sheraz of KASB KTrade noted that the KSE-100 closed at 165,736 points, gaining 1,269 points (+0.77%) in a broadly positive session, with approximately 183 million shares traded. Buying interest remained widespread, led by commercial banks, fertilisers, automobiles and power stocks. However, Brent crude hovering around $115 per barrel remains a key concern, alongside geopolitical uncertainty involving Iran, Israel and the US. Going forward, \u201cwe expect the market to maintain a cautious-to-positive, range-bound trend, with oil prices, geopolitical developments and corporate earnings likely to dictate near-term direction,\u201d Sheraz said.
\nOverall, trading volume increased to 578.1 million shares from Tuesday\u2019s total of 401.9 million while the value of traded shares stood at Rs26.2 billion. Shares of 496 companies were traded in the ready market, of which 269 stocks closed higher and 180 fell. Pervez Ahmed Co was the volume leader with trading in 58.4 million shares, rising Rs0.63 to close at Rs3.67.<\/p>\n","protected":false},"excerpt":{"rendered":"
KARACHI The Pakistan Stock Exchange (PSX) put on an impressive show on Wednesday as the benchmark KSE-100 Index staged a strong rally, with buying gathering pace in the final hours to push the market higher despite lingering concerns over monetary tightening and rising international oil prices. The benchmark registered a significant gain of 1,269.55 points, …<\/p>\n","protected":false},"author":4,"featured_media":78403,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-105054","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/105054","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/comments?post=105054"}],"version-history":[{"count":1,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/105054\/revisions"}],"predecessor-version":[{"id":105065,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/105054\/revisions\/105065"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media\/78403"}],"wp:attachment":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media?parent=105054"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/categories?post=105054"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/tags?post=105054"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}