PSX closes positive, recovers previous session losses

KARACHI: The Pakistan Stock Exchange (PSX) closed on a positive note on Wednesday, recovering losses from the previous session amid strong investor participation.

The benchmark KSE-100 Index gained 440 points, or 0.32 per cent, to settle at 136,380.

The session opened on an optimistic note, with the index reaching an intraday high of 137,232 and a low of 135,543, before paring some gains due to profit-taking in the second half.

According to Topline Securities, investors mainly booked profits in banking stocks. Support for the index came from FFC, ENGROH, EFERT, PSEL, and ATRL, which collectively contributed 1,160 points. In contrast, UBL, MEBL, and MCB dragged the index down by 443 points.

Market activity remained robust, with total trading volume clocking in at 701 million shares and a turnover of Rs32 billion. PIBTL led the volumes with 90 million shares traded.

Fertiliser, Textile Composite, and Pharmaceuticals sectors were the major contributors, adding a combined 805 points.

Also read: Honda Atlas Cars expects monthly sales of 400-500 units

Pearl Securities noted that the bullish momentum was underpinned by elevated corporate earnings expectations and sustained institutional inflows, particularly from domestic mutual funds. Despite the late-session profit-taking, the market’s positive close reflected underlying strength.

In the previous session, the index had lost 562 points, or 0.41 per cent, to close at 135,393 after a volatile trading day marked by broad-based profit-taking. That session saw a swing of 676 points, as bullish sentiment gave way to cautious selling.