The Pakistan Stock Exchange (PSX) continued its upward trajectory on Wednesday, with the KSE-100 index nearing the 87,000 threshold, reaching an intra-day high of 86,940 points.
This uptick marks the third day of gains, following an opening boost of 268 points, positioning the index at 86,734.66 by 11:18 am. The previous trading session also saw robust activity, culminating in the index peaking at 86,807 points. By Tuesday’s close, it had ascended to 86,837.06, a rise of 370.49 points or 0.43%, on trading volumes surpassing 201 million shares worth Rs4.69 billion.
Analysts link this continuous climb to positive investor sentiment and stable economic fundamentals. Monday’s session was particularly strong, driven by healthy economic indicators and some political stability, with the KSE-100 surging past 86,000 due to a robust 800-point gain.
This surge followed the National Assembly’s approval of constitutional amendments, sparking widespread buying that spanned various sectors and pushed the index to an intra-day peak of 86,172.79 by day’s end.
BF Biosciences was listed during a ceremony at PSX, marking a partnership between Ferozsons Laboratories and Argentina’s Bago Group.
Ahsan Mehanti, Managing Director at Arif Habib Corp, remarked, “The market experienced a sharp rebound early in the session, fueled by broad-based buying after the passage of constitutional amendments which resolved political uncertainties.”
He further noted that anticipation around the earnings season and lower lending rates spurred the bullish momentum at PSX.
The KSE-100 recorded substantial gains of 807.42 points or 0.95% at trading’s end, closing at 86,057.52. According to analysts, auto stocks gained attention due to a slight recovery in volumes and an increase in auto financing.
Trading volumes swelled to 474.9 million shares from Friday’s 323.9 million, with a trading value of Rs19.7 billion. Among the 445 traded companies, 269 advanced, 124 declined, and 52 remained unchanged.
