The Pakistan Stock Exchange (PSX) continued its recovery on Wednesday, with the benchmark KSE-100 Index gaining 830.43 points, or 0.48 per cent, amid easing geopolitical concerns, lower oil prices and improved investor sentiment.
The index climbed to an intraday high of 172,762.41 points before settling at 172,232.51. Market sentiment was supported by expectations of progress in US-Iran diplomatic efforts and softer international oil prices, which helped reduce concerns over regional instability and external-sector pressures.
The refinery sector remained among the prominent gainers. Pakistan Refinery reached its upper price limit, while Attock Refinery, National Refinery and Cnergyico PK also closed higher amid market expectations of progress on long-awaited refinery upgrade agreements.
Index-heavy stocks also contributed significantly to the market’s gains. Fauji Fertiliser, United Bank, Meezan Bank, Attock Refinery and Engro Holdings were among the major contributors, while buying interest remained visible across several sectors.
Trading activity strengthened during the session, with volume rising to around 773.6 million shares from 641.8 million a day earlier. Cnergyico PK remained the volume leader with about 150.3 million shares traded.
Market analysts said developments surrounding US-Iran talks helped ease geopolitical concerns and supported investor sentiment. The arrival of an International Monetary Fund (IMF) staff mission in Pakistan for discussions on the next reviews under the $7 billion Extended Fund Facility and the Resilience and Sustainability Facility also provided support to the market.
Analysts said market activity could remain sensitive to geopolitical developments, international oil prices and progress on the IMF reviews.
