Topline Securities Ltd said the benchmark index rebounded on Thursday, gaining 1,021.40 points, or 0.67 per cent, to close at 169,043.20, partially recovering from the previous session’s sharp decline.
The index traded between 168,223 and 169,577 points during the session, reflecting continued volatility despite the positive close.
The recovery was driven by selective buying in major index-heavy stocks following the recent market correction. However, investor sentiment remained cautious amid developments in global oil prices, geopolitical tensions, domestic macroeconomic indicators and institutional flows.
Ali Najib, Deputy Head of Trading at Arif Habib Ltd, said market sentiment improved following remarks by US President Donald Trump indicating that the conflict with Iran could be nearing an end. Easing oil prices also provided support to the market. Reports that additional Saudi crude cargoes were being routed through Oman further reduced concerns over potential supply disruptions.
On the corporate front, National Bank informed the Pakistan Stock Exchange that the Federal Constitutional Court of Pakistan announced its judgment on Wednesday, Sept 16, regarding pensioners’ entitlement to government-announced pension increases and dismissed the bank’s appeal.
Among index contributors, Pakistan Petroleum, United Bank, Mari Energies, Bank Alfalah, Habib Bank, Engro Holdings, Lucky Cement, Oil and Gas Development Company, Meezan Bank and Maple Leaf Cement Factory were the leading positive contributors, collectively adding 717 points to the benchmark index.
Market activity remained relatively stable, with trading volume increasing 8.48 per cent to 386.3 million shares, while the total traded value rose 3.10 per cent to Rs20.09 billion. Media Times Ltd topped the volume chart with 42 million shares traded.
Analysts said buying interest could strengthen if geopolitical tensions ease and international oil prices continue to decline.
However, elevated energy prices, external-sector risks and the upcoming International Monetary Fund review are expected to remain key factors influencing market trends.
