The KSE-100 index staged a strong recovery on Thursday, gaining 1,284 points after falling 1,370 points in the previous session.
The market opened on a positive note and extended its gains during the morning session. The index reached an intraday high of 169,576.52 before easing slightly, while the session low stood at 168,222.91. The previous close was recorded at 168,021.80.
Trading volume on the benchmark index stood at 73.87 million shares, with the traded value reaching Rs6.96 billion.
Buying interest was concentrated in commercial banks, cement, oil and gas exploration companies, refineries, automobile assemblers, oil marketing companies and power generation firms.
Index-heavy stocks, including Lucky Cement, MCB Bank, Meezan Bank, National Bank of Pakistan, United Bank, Mari Petroleum, Oil and Gas Development Company, Pakistan Petroleum, Pakistan Oilfields and Attock Refinery, traded higher.
The rebound followed a weak Wednesday session during which elevated international oil prices, repeated domestic fuel price increases and concerns over supply disruptions in the Middle East triggered broad-based selling.
Petrol prices were increased for an eighth consecutive day to Rs391.22 per litre. Meanwhile, the US Federal Reserve delivered its first interest-rate hike since 2023, while international oil prices eased moderately from recent highs and Asian markets strengthened, providing a somewhat improved backdrop for equities.
Investors appeared to seek value following the recent market correction, which had pushed the KSE-100 more than 10 per cent below its July peak. However, market sentiment remained cautious.
Geopolitical tensions surrounding the Strait of Hormuz, elevated energy costs and pressures on the external account continue to weigh on investor sentiment.
Market activity remained selective rather than broad-based, with the performance of the afternoon session expected to determine whether the index could retain its gains by the close.
