KARACHI: The stock market posted a strong rally on Wednesday, with the benchmark KSE-100 Index surging 4,276.09 points, or 2.85 per cent, to close at 154,292.26 points, up from the previous session’s close of 150,016.16 points. The rebound was broad-based, with gainers outnumbering losers by a wide margin across all market segments. The market witnessed renewed investor interest amid a slight decline in global oil prices.
The index touched an intraday high of 154,684.45 points before settling near the day’s peak, while the session low was recorded at 150,284.26 points. The KSE-30 index also recorded a strong gain, rising by 1,418.41 points, or 3.12 per cent, to close at 46,904.87 points, against 45,486.46 points in the prior session.
Ali Najib, deputy head of trading at Arif Habib Ltd, said the PSX staged a strong recovery, reflecting a notable improvement in market sentiment. The session remained volatile, as investors capitalised on attractive valuations. The rebound was supported by slightly easing international oil prices and renewed selective value hunting, around the 150k level.
On the macro and geopolitical front, developments remained mixed. Ishaq Dar is scheduled to visit Saudi Arabia for high-level diplomatic engagements, while recent airstrikes in Afghanistan have heightened regional tensions, raising concerns over broader geopolitical stability.
Additionally, potential new conditions from the IMF regarding tax enforcement remain a key risk factor for economic policy direction.
UBL, OGDC, FFC, PPL, and MEBL collectively contributed 1,816 points, anchoring the market’s upward momentum, while NBP, PABC, HINOON and LCO acted as laggards by losing 110 points.
“Despite these uncertainties, the market has shown resilience, with the index up 2.85 per cent week-to-date, positioning itself for its first positive weekly close since January. Notably, the recurring pattern of Monday marking weekly lows for the third consecutive week indicates a strengthening technical base and improving investor confidence heading into the final session before the holiday period,” said Ali Najib.
Trading activity picked up sharply. Shares traded in the ready market rose by 52.62 per cent to 397.465 million from 260.428 million in the previous session. Traded value climbed by 29.92 per cent to Rs22.352 billion from Rs17.205 billion. Market capitalisation expanded by 2.75 per cent to Rs17.254 trillion from Rs16.793 trillion.
Of the 483 companies active during the session, 339 closed in positive territory, only 79 recorded losses, and 65 remained unchanged, reflecting decisive and widespread buying interest across sectors.
Among the top gainers, Unilever Pakistan Foods Limited rose by Rs255 to close at Rs24,707.00 per share. Sazgar Engineering Works Limited followed, gaining Rs63.96 to close at Rs1,856.41 per share.
On the declining side, Supernet Technologies Limited fell by Rs36.14 to close at Rs1,263.84 per share. Tandlianwala Sugar Mills Limited shed Rs15.85 to close at Rs215.15 per share. Mubashir Anis Naviwala, an analyst at JS Global, said the KSE-100 index witnessed strong buying throughout the session, reflecting renewed confidence among investors. The rally was largely attributed to a slight decline in global oil prices. Overall sentiment improved as investors responded positively to stabilising global energy markets and regional recovery.
BO Punjab led the volume table with 54.733 million shares traded, surging Rs1.76 to close at Rs27.55 per share. Wasl Mobility followed with 31.549 million shares, with the stock gaining 56 paisas to close at Re0.64 per share.Other significant turnover stocks included K-Electric Ltd, Unity Foods Ltd, Hascol Petroleum, WorldCall Telecom, Pace (Pak) Ltd, National Bank XD, Cnergyico PK, and Nishat ChunPower.
In the futures market, 316 companies recorded trading activity, of which 287 advanced, only 24 declined, and five remained unchanged, reflecting an overwhelmingly bullish reading that mirrored the strength in the ready market and pointed to sustained positive momentum heading into the next session.
