Buying activity returned to the Pakistan Stock Exchange on Thursday, helping the benchmark KSE-100 Index recover in early trade after the previous session’s losses.
The market opened on a strong note, with the index jumping close to 1,000 points within minutes. By 9:35am, it was hovering at 168,449, up 998 points or 0.60 percent. The rally briefly gathered pace, pushing the index to an intraday high of 168,528 around 9:33am, as trading volumes crossed 2.1 million shares in the opening phase.
Broad-based buying across key sectors
Gains were seen across major sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration companies, oil marketing firms, power generation and refineries. Heavily weighted stocks such as Attock Refinery, Hub Power, Mari Petroleum, OGDC, PPL, HBL, MCB, Meezan Bank and UBL traded in positive territory, supporting the index.
However, the early momentum slowed later in the session. By 12:04pm, the KSE-100 Index had pared most of its gains and was recorded at 167,635, still up 184 points or 0.11 percent from the previous close.
During the day, the market moved within a range of 167,209 to 168,528 points. Total traded volume stood at over 75.6 million shares. Despite recent volatility, the index remains up more than 41 percent on a one-year basis, though it is still down around 3.7 percent since the start of the year.
Among actively traded stocks, Bank of Punjab, WorldCall Telecom, Cnergyico and Thatta Cement saw notable activity. Some stocks posted strong gains, particularly smaller-cap names, while others faced selling pressure.
Cautious mood lingers after previous decline
The recovery follows a weak session on Wednesday, when the market fell sharply as investors stayed cautious. Concerns over a lack of progress in diplomatic talks and uncertainty surrounding tensions involving the US and Iran weighed on sentiment. Rising global oil prices also added pressure, leading to selling in major stocks. The KSE-100 had closed lower by 1,465 points, or 0.87 percent, at 167,451.
Global cues mixed amid geopolitical focus
Internationally, equity markets showed a mixed trend. Asian shares were supported by continued interest in artificial intelligence stocks, with gains in Japan pushing the Nikkei to a fresh record high. South Korean markets fluctuated, while Chinese stocks edged lower after recent highs.
Investor attention remained fixed on high-level talks between US President Donald Trump and Chinese President Xi Jinping in Beijing. The discussions are expected to cover trade tensions and broader geopolitical issues, including developments in the Middle East.
Analysts say that while global optimism around technology stocks is offering support, risks remain. Elevated oil prices and ongoing geopolitical uncertainty could revive inflation concerns and keep investors cautious in the near term.
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