Bullish Momentum Returns to PSX as KSE-100 Index Rebounds Strongly

Pakistan’s Stock Exchange (PSX) saw a remarkable rebound on Thursday as the KSE-100 index closed nearly 600 points higher after two days of significant selling pressure.

The index, which dropped by almost 1,600 points on Wednesday, made a strong recovery driven by foreign investments and a focus on cement stocks.

Trading began on a mixed note, with the KSE-100 index hitting an intraday low of 113,234.31. However, increased buying activity in the afternoon pushed it to a high of 114,319.62. It ultimately closed at 114,037.79, marking a gain of 594.36 points or 0.52%.

Buying activity was prominent in key sectors such as automobile assemblers, commercial banks, cement, fertilizers, oil and gas exploration, oil marketing companies, and power generation.

Major stocks like OGDC, HUBCO, PSO, SNGPL, SSGC, PPL, POL, MCB, NBP, and UBL traded positively.

Intermarket Securities noted that political uncertainty and the lack of positive triggers are creating selling pressure, with some investors expecting less than a 100bps rate cut in the upcoming Monetary Policy Committee (MPC) meeting on January 27.

This recovery highlights the resilience of the market, which continues to attract significant attention from investors despite the prevailing challenges.