After days of heavy selling, the bulls finally regained control at the Pakistan Stock Exchange (PSX) on Wednesday as the benchmark PSX-100 Index recorded a robust comeback. Investors returned to the market with renewed conviction, snapping up attractive valuations across major sectors.
The session opened on a strong upward trajectory and managed to sustain its bullish trend throughout the day. The index climbed to an intraday high of 163,397.24, reflecting broad-based buying interest. Although early dips pushed the market to 160,564.86, the rebound was swift as institutional investors continued to accumulate positions.
By the close, the PSX-100 settled at 163,188.53, up 1,496.04 points (0.93%) from the previous session — marking one of the strongest single-day recoveries in recent weeks.
Experts call it a “valuation-driven comeback”
Market analysts believe the reversal was expected after several sessions of overselling.
According to capital market analysts, the bounce was largely valuation-driven, with investors positioning themselves ahead of upcoming policy decisions and expectations of progress on the IMF front.
“After the recent correction, the market had become too attractive to ignore,” an analyst said, adding that clarity on macroeconomic indicators is further supporting sentiment.
Fertiliser and banking sectors dominate the rally
Fertiliser stocks spearheaded the day’s performance, with Fauji Fertiliser taking centre stage. Major banks also contributed significantly, as Meezan Bank, Habib Bank, National Bank of Pakistan, and OGDCL posted strong gains that helped lift the index.
Turnover signals renewed activity
Trading activity remained strong, with the KSE All-Share volume rising to 635 million shares, reflecting investors’ renewed appetite. Market observers expect sentiment to stay positive in the near term, driven by rollover week flows and hopes of fresh economic triggers.
Overall, 474 companies were traded, out of which 136 advanced, 290 declined, and 48 remained unchanged. The total traded value reached Rs30.9 billion.
Experts warn that while geopolitical risks remain a factor, “momentum is building for a constructive phase,” especially as Pakistan awaits developments regarding the next IMF tranche.
