KARACHI — Pakistan’s benchmark KSE-100 index rebounded strongly Monday afternoon, gaining 960 points after an early intraday decline. The index had dropped to 183,840 points around 11:20 a.m. before recovering to 185,135 points by 3:00 p.m.
The early dip followed a turbulent week for the equities market. Last Thursday, the KSE-100 lost over 6,000 points after the State Bank kept interest rates at 10.5%. The market had slightly recovered to close in the green on Friday.
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Top active stocks included First National Equities Limited (173 million shares at Rs1.65), Hascol Petroleum Limited (48 million shares at Rs26.10), and K-Electric Limited (35 million shares at Rs96.16). Investors cautiously monitored the market after the rate decision.
Shoaib Memon, EVP of equities at AKD Securities, said the central bank’s decision may have short-term negative effects, but overall positive sentiment is likely to prevail despite global tensions.
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Technical analysis from Arif Habib Limited noted a “renewed attempt to break above resistance at 184,570–185,625 points.” A breakout could target 186,125–186,700 points, while support lies between 183,700 and 182,200 points. Breaching support could trigger further declines.