KARACHI: The Pakistan Stock Exchange (PSX) opened on a positive note on Wednesday, recovering from overnight bearish sentiment driven by security concerns after two deadly terrorist attacks. Renewed buying interest at attractive levels helped the KSE-100 index post modest gains despite an otherwise cautious market.
The index swung between an intraday high of 164,500 points and a low of 166,600 points, finally closing at 158,183.95 points, up 313.44 points or 0.20 per cent. Trading volumes fell 9.46 per cent to 757.24 million shares, while the traded value dipped 12.24 per cent to Rs33 billion, reflecting investor hesitation amid ongoing domestic and regional uncertainties.
Major gainers included Fauji Fertiliser, Pakistan Services, Pakistan Petroleum, United Bank, and Kohinoor Textile Mills, which collectively contributed 777 points to the benchmark. On the other hand, Lucky Cement, Habib Bank, Systems Ltd, and Oil and Gas Development Company shaved off 303 points. First National Equities Ltd led volume with 89 million shares exchanged.
Analysts noted that the market experienced a tug-of-war between bullish and bearish forces. Ali Najib of Arif Habib Ltd said that while investors were drawn by the potential re-entry of Pakistan into the global debt market next year through dollar-denominated bonds, lingering security concerns kept sentiment indecisive.
The session reflected a consolidation phase with weakening momentum, as selling pressure emerged near intraday highs. Market participants remained cautious, awaiting fresh catalysts to sustain bullish trends in the coming sessions.