Karachi: The Pakistan Stock Exchange ended trading on a positive note on Wednesday, with the benchmark KSE-100 index showing significant gains, recording a gain of 1,456 points. The index closed at 186,518 points, a clear indication of improving investor confidence.
The market opened cautiously at the start of the trading day, however, buying pressure started increasing in the early hours. The KSE-100 index opened at 185,845 points and reached a high of 187,015 points during the day, while the low was recorded at 184,896 points.
The market rally was mainly due to the strong performance of selected stocks in the energy, banking and fertilizer sectors. HUBCO contributed the most positively, adding about 296 points to the index, while PPL, ENGROH and MCB also emerged as prominent pillars. In the banking sector, the performance of MCB and MEBL supported the overall trend.
According to the data, the total volume of the index components was 569 million shares, reflecting good investor participation in the market. The KSE-100 index has gained over 48 percent since the beginning of the financial year (FYTD), while the increase on a calendar year-to-date (CYTD) basis has exceeded 7 percent.
However, not all stocks contributed positively. Stocks like UBL, FFC and PSEL weighed on the index, whose negative contribution was limited compared to the overall rally.
According to market experts, the recent rally in the KSE-100 is linked to hopes of economic stability, expected policy continuity and better corporate results. Experts say that if the current momentum continues, the market can touch new heights; however, investors are advised to remain cautious.
