Karachi: The Pakistan Stock Exchange (PSX) extended its upward momentum on Wednesday, with the benchmark KSE-100 index climbing sharply by 931 points, reflecting renewed investor confidence in banking and conglomerate stocks. The index closed at 187,832.08 points, marking a 0.50 percent gain compared with the opening level of 187,193.29.
The session remained positive throughout the day, as the market touched an intraday high of 188,312.21 while dipping briefly to a low of 187,018.69 amid minor profit-taking. However, steady institutional buying helped maintain the upward trajectory until the closing bell.
Banking and fertilizer-linked stocks dominated the gains. Meezan Bank (MEBL) emerged as the top contributor, adding 246.62 points to the index. Engro Holdings (ENGROH) followed with 150.81 points, while National Bank of Pakistan (NBP), United Bank Limited (UBL), and Habib Metropolitan Bank (HMB) also supported the rally with notable contributions.
On the downside, some technology and energy names limited the overall advance. Systems Limited (SYS) weighed on the index with a 58.09-point drag, while EFERT, Pakistan Petroleum Limited (PPL), ILP, and SAZEW recorded smaller declines.
Market participation remained healthy, with 767.51 million shares traded among index constituents, signaling strong investor activity. The broader outlook also appears encouraging, as the KSE-100 has delivered 49.52 percent gains in the fiscal year to date, while calendar year returns stand at 7.92 percent.
Analysts believe improving macroeconomic stability and strong corporate earnings are supporting equities, though they recommend cautious stock selection amid global uncertainties.
KSE-100 rallies nearly 1,000 points as banks and blue chips power PSX higher
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