Investor sentiment remained firmly upbeat at the Pakistan Stock Exchange (PSX) on Wednesday as sustained buying powered the benchmark KSE-100 index, which closed sharply higher by nearly 4,300 points, or 2.85%.
During the day, the index climbed to the intra-day high of 154,684 and touched the low of 150,284. By around 1:00pm, gains stood at approximately 2.49%, reflecting steady investor confidence.
Notable buying interest was observed in sectors such as auto assemblers, cement, commercial banks, fertiliser, oil and gas exploration, oil marketing companies, power generation and refineries, indicating participation across the board. At close, the KSE-100 index registered a surge of 4,276.09 points, or 2.85%, to settle at 154,292.26, which marked an extension of Tuesday’s bullish trend.
“The market registered strong buying throughout the session, reflecting renewed confidence among investors,” JS Global analyst Mubashir Anis Naviwala commented. The rally was largely attributed to a slight decline in global oil prices and a rebound in regional markets. Buying interest was observed in banking, E&P, cement and fertiliser sectors.
The benchmark index kept on advancing north during the latter half and closed at 154,292, higher by 4,276 points. Market participation remained healthy with volumes standing at 397 million shares while traded value came in at Rs22 billion. The overall sentiment improved as investors responded positively to stabilising global energy markets and regional recovery, he said.
According to Arif Habib Limited (AHL), the KSE-100 continued to gain ground with strong demand below 150k, rising 2.85% day-on-day in the week’s penultimate session. Shares of 89 companies rose while eight fell with UBL (+6.08%), OGDC (+6.8%) and Fauji Fertiliser Company (+2.21%) contributing the most to the index gains. On the flip side, NBP (-2.89%), Pakistan Aluminium Beverage Cans (-4.57%) and Highnoon Laboratories (-0.46%) were the biggest index drags, it said.
Foreign Minister Ishaq Dar will visit Saudi Arabia on March 18-19 to attend a meeting of top diplomats of the region. Additionally, the IMF may impose three more conditions on Pakistan to ensure target-based tax collection against some enforcement measures, which largely remained on paper and could not yield additional revenues.
The index was up for the week while heading into the final session before Eid and weekly holidays. It was on track for its first positive weekly close since January, AHL wrote.
KTrade Securities, in its market wrap, remarked that the KSE-100 staged a sharp rebound, soaring 4,276 points (+2.85%), as the bourse snapped its recent losing streak with strong buying in index-heavy names. Momentum remained firm throughout the session, reflecting a decisive shift in short-term sentiment.
Improved external cues played a key role, where Brent crude eased towards the $100-101 range from recent highs near $104-105, while positive overnight trends in global equities further supported the risk appetite. “The cooling of oil acted like a pressure valve release for the stock market, which encouraged fresh positioning,” it said.
The rally was led by heavyweight stocks including UBL, Oil & Gas Development Company, Fauji Fertiliser, Pakistan Petroleum, Mari Energies, MCB Bank, Hub Power, Pakistan State Oil, Engro Holdings, Pakistan Oilfields, Lucky Cement and Meezan Bank, which represented broad-based strength.
Despite the recovery, the outlook remains cautiously constructive. The rebound may prove temporary, with oil price direction still a key risk, while expectations of a potential 100-basis-point rate adjustment could keep yields elevated, KTrade anticipated.
During the day, shares of 483 companies were traded. Of these, 339 closed higher, 79 fell and 65 remained unchanged.
The Bank of Punjab was the volume leader with trading in 54.7 million shares, rising Rs1.76 to close at Rs27.55. It was followed by Wasl Mobility (R) with 31.5 million shares, gaining Rs0.56 to close at Rs0.64 and K-Electric with 26.4 million shares, adding Rs0.32 to close at Rs7.73. Foreign investors sold shares worth Rs712 million, the National Clearing Company reported.
