Pakistan’s benchmark stock index closed higher on Wednesday, supported by buying in selected blue-chip stocks, although profit-taking and geopolitical uncertainty limited the overall advance.
The KSE-100 Index climbed as much as 1,892 points during the session to reach an intraday peak of 171,492.53. Selling pressure later trimmed the gains, with the index settling at 169,969.33, up 368.92 points, or 0.22 per cent.
Ali Najib, Deputy Head of Trading at Arif Habib Ltd, said the market remained positive for most of the session but could not maintain its position above the 170,000 mark. As a result, the index ended September below that key level.
The market initially maintained upward momentum before renewed selling pushed the benchmark lower towards the close.
On the economic front, the Ministry of Finance introduced a Strategic Action Plan for the Local Currency Bond Market. The initiative focuses on improving trading activity in the secondary market, expanding the investor base and further developing the framework for rupee-denominated securities.
In the energy sector, media reports indicated that the government is considering allowing power producers and other private-sector firms to import LNG directly. The proposed move is aimed at improving energy availability while limiting additional pressure on public finances.
Several major companies contributed to the market’s overall rise. Habib Bank, Meezan Bank, Lucky Cement, Fatima Fertiliser, Fauji Fertiliser, Engro Holdings, Engro Fertiliser, United Bank, Systems Ltd and Mari Energies together contributed around 467 points to the index.
Trading activity also picked up compared with the previous session. Volume increased by 4.08pc to 591.23 million shares, while the total value of traded shares reached Rs20.19 billion.
Market analysts expect trading to remain volatile and largely range-bound in the near term, with 170,000 continuing to serve as an important psychological level. A sustained move above this threshold could support further gains towards 171,500-172,500, while a failure to hold it could bring 169,000-168,000 into focus.
According to analysts, the upcoming International Monetary Fund review, developments in the Middle East and movements in global crude oil prices will remain important factors for the stock market in the days ahead.
