KARACHI: Pakistan’s benchmark index, the KSE-100, bounced back on Friday morning, gaining 1,746.78 points after a steep decline of 6,131.53 points on Thursday. At 11:10 am, the index reached 184,084.90 points, marking a 0.96 per cent rise from Thursday’s close of 182,338.12 points.
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Market activity was led by K Electric Limited, which rose 0.7 per cent to Rs7.17 with a traded volume of 25.65 million shares. Pakistan Telecommunication Company Ltd also saw strong gains, rising 3.51 per cent to Rs62.55 on a volume of 16.77 million shares. Worldcall Telecom Limited was among the top decliners, slipping 0.6 per cent to Rs1.66 with 18.07 million shares traded.
The top advancing stocks included Apna Microfinance Bank Limited, surging 10.01 per cent to Rs17.92, First Tri-Star Modaraba, up 10 per cent to Rs44.21, and Blessed Textiles Limited, gaining 10 per cent to Rs557.66.
Analysts attributed Thursday’s market volatility to disappointing results from Fauji Fertilizer Company Limited, which fell short of expectations. “Earnings and a mismatch between expectations and outcomes led to panic selling, prompting investors to book recent gains and intensifying the sell-off,” said Maaz Mulla, vice president of equity sales at Topline Securities.
Looking ahead, analysts said the 180,000-point mark remains a key support level for the market. “A weekly close above 185,000 would be required to signal the resumption of a bullish trend in the coming week,” they added.
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Despite the recent turbulence, trading volumes remain robust, with investors monitoring corporate earnings and macroeconomic developments closely as the market navigates a volatile phase.