PSX surges over 2,000 points as buying momentum lifts sentiment

KARACHI: The Pakistan Stock Exchange (PSX) witnessed another strong session on Wednesday, October 15, as investors continued to buy across major sectors. The benchmark KSE-100 Index opened in the green and sustained its upward trajectory throughout the morning.

Around 9:35 AM, the index had gained 1,622.07 points to reach 167,098.09 with trading volumes standing at over 18.7 million shares. The positive momentum accelerated further, pushing the index up by 2,085.67 points to 167,561.69 by 11:15 AM as market volume soared past 313 million shares.

By 12:29 PM, the PSX stood at 167,351.37, marking an intraday gain of 1,875.35 points or 1.13 percent. The index traded within a day range of 165,886.78 and 167,561.69. The one-year performance shows an impressive 94.96 percent surge, while the year-to-date increase stands at 45.36 percent.

Top gainers and losers in active trade

Several stocks stood out as top gainers in Wednesday’s intraday session. DBCI, ESBL, and PIAHCLA each surged more than 10 percent, while KOIL, FRCL, GEMBLUEX, and KOHP also posted similar double-digit advances. Other major gainers included STJT, ANTM, and AGIC, all closing near their upper circuit limits.

On the other hand, BECO led the list of decliners with a 10 percent fall to Rs49.56. DMTM followed with a 9.9 percent drop, while SHJS, LSEFSL, and TRSM also faced steep losses ranging between 8 and 9 percent. Heavy losses were also seen in GUSM, AKGL, and SZTM, while blue-chip counters such as KHYT and ISIL shed over 6 percent each.

Mixed performance among key index companies

Among KSE-100 index companies, several large-cap stocks traded actively in both green and red zones. On the downside, EFERT slipped 2.77 percent to Rs223, while CPHL and MLCF fell around 1.5 to 1.8 percent. Other laggards included PPL, ENGROH, and ATRL, which saw mild corrections after earlier rallies.

In contrast, the banking sector and energy shares led the day’s upward move. PSEL gained 10 percent to Rs980.50, maintaining its strong upward run. SNGP surged over 6 percent to Rs135.50, while BOP jumped nearly 6 percent to Rs36.69 on heavy volumes. PTC and FABL also advanced more than 5 percent each. ABL, BAFL, and NBP posted solid gains ranging between 4 and 5 percent, reflecting strong investor confidence in the financial sector.

Cement and power sector stocks also showed strength, with MARI climbing 2.44 percent to Rs763.47 and KEL advancing 2.25 percent to Rs7.27. Leading banking counters including HBL, MCB, and MEBL recorded healthy gains, continuing to lift the broader index.

Recent rally driven by improved stability

Tuesday’s closing had already set the stage for Wednesday’s bullish momentum. The benchmark KSE-100 had ended the previous session at 165,476.02, marking a sharp rise of 7,032.60 points or 4.44 percent. The strong rebound was attributed to improving political stability and a calmer situation along the Pakistan-Afghanistan border, which helped restore investor confidence.

On Tuesday, 96 out of 100 index companies closed higher, while only three slipped lower. Top performers included PSEL, SYS, and BOP, all posting substantial double-digit gains. The surge was driven mainly by contributions from LUCK, UBL, SYS, ENGROH, and HUBC, which collectively added over 2,300 points to the index.

Post-close

At around 3:29 PM, the stock market was down by 100.43 points at 165,375.59, marking the lowest level of the day. However, within a minute, it rebounded into positive territory and gained 210.36 points to reach 165,686.38 by 3:30 PM, when the trading volume stood at 891,160,901 and the market status was post-close.

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