KARACHI: The KSE-100 index surged 2,885.1 points, or 1.74 per cent, on Wednesday to close at 168,519.94 against the previous session’s close of 165,634.85. The market witnessed renewed investor interest on hopes for a new round of talks between the US and Iran.The index touched an intraday high of 170,640.26 and a low of 168,182.98 during the session. The KSE-30 index rose 931.27 points, or 1.86 per cent, to close at 50,918.37.
Ali Najib, deputy head of trading at Arif Habib Ltd, said the PSX extended its rally, reflecting sustained investor confidence.Market sentiment remained buoyant during the session, supported by Saudi Arabia’s commitment of an additional $3 billion deposit to Pakistan, alongside easing global oil prices, with West Texas Intermediate (WTI) at $92 and Brent crude at $94.
The combined effect of improving diplomatic and economic developments signals a gradual shift in the macro narrative from crisis stabilisation toward growth recovery.“While speculation regarding a potential second round of US-Iran talks in Islamabad continues to circulate, official confirmation remains awaited. However, ongoing diplomatic engagement and indications of renewed negotiations suggest that market sentiment may remain supported, with near-term momentum likely to stay sensitive to further developments,” Najib said.
Ready market turnover jumped 46.24 per cent to 1.206 billion shares against 824.539 million in the previous session. Traded value surged 63.52 per cent to Rs59.417 billion from Rs36.336 billion, while market capitalisation rose 1.66 per cent to Rs18.61 trillion from Rs18.306 trillion.Market breadth was strongly positive, with 370 companies advancing against 83 declining and 37 finishing unchanged out of 490 traded.
Among the top gainers, Sazgar Engineering Works Limited rose Rs135.70 to close at Rs2,151.95, while Blessed Textiles Limited gained Rs119.07 to close at Rs1,309.78.On the losing side, Unilever Pakistan Foods Limited shed Rs256.35 to close at Rs26,228.65, while Rafhan Maize Products Company Limited fell Rs61.41 to close at Rs9,401.92.
Naveed Nadeem, senior equity trader at Topline Securities Limited, said the local bourse commenced trading on a strong positive note, extending the previous session’s bullish momentum. However, mid-session volatility emerged, eroding a portion of the early gains and pulling the index down to an intraday low of 2,548 points, while notably remaining in positive territory throughout the session.
Despite intermittent fluctuations, the market exhibited resilience and closed in the green, highlighting a robust recovery in market sentiment.Index-heavy stocks, including UBL, FFC, HUBC, MEBL and BOP, posted notable gains, collectively contributing 1,251 points to the benchmark index.
K-Electric Ltd led ready market turnover with 124.915 million shares, declining 18 paisas to Rs7.77, while WorldCall Telecom followed with 76.856 million shares, declining 3 paisas to Rs1.51. The remaining turnover leaders were Bank of Punjab, Trust Brokerage, Pace (Pak) Ltd, Pak Elektron, F Nat Equities, Pak Int. Bulk, Loads Limited and Sui South Gas.In the futures market, 320 companies were traded, with 299 recording gains and 20 declining.
