Pakistan’s stock market swung between gains and losses in early trading on Wednesday as investors weighed rising geopolitical tensions in the Middle East against bargain hunting in select sectors.
The benchmark KSE-100 Index opened under pressure and dropped sharply during the first hour of trade. By 9:34am, the index had fallen 875.41 points to an intraday low of 169,455.15, with trading volumes standing at 3.74 million shares.
However, the selling pressure eased as buyers returned to the market. Around 9:55am, the PSX had recovered most of its losses and was marginally higher by 4.83 points at 170,335.39. The rebound gathered pace by 10:18am, when the benchmark index rose 399.01 points to reach 170,729.57, supported by increased investor activity as volumes crossed 42.88 million shares.
The gains proved short-lived. By 11:59am, the market had once again slipped into negative territory, with the KSE-100 Index standing at 170,304.89, down 25.67 points or 0.02 percent from the previous close. Trading volumes had climbed to more than 82 million shares.
The market’s movement reflected the uncertainty gripping investors amid fresh developments in the Middle East. A mixed trend was visible across major sectors, including automobile assemblers, cement companies, commercial banks, oil and gas exploration firms, oil marketing companies and power generation stocks.
Despite the intraday volatility, the benchmark index remained significantly higher than its level a year ago. The KSE-100 has gained 39.57 percent over the past 12 months, although it remains down 2.15 percent since the start of the year. Wednesday’s trading saw the index move within a range of 169,455.15 to 170,729.57, compared with Tuesday’s closing level of 170,330.56.
Among actively traded stocks, Telecard Limited attracted buying interest and rose 4.02 percent to Rs9.32, while Loads Limited gained 6.93 percent to Rs14.51. Amreli Steels Limited advanced 5.95 percent to Rs17.28, and ASL climbed 7.06 percent to Rs13.20. On the losing side, TPL Properties fell 3.71 percent to Rs10.89, while TPL Corp declined 4.05 percent to Rs13.74.
The list of top gainers included FFLM, which surged 10.34 percent, followed by PPVC, BPL, REDCO, DAAG, CPPL, KOHTM and HRPL, all of which posted gains close to 10 percent. Meanwhile, IDRT led the decliners with a 10 percent drop. FIMM, FRCL, PASM and SAPT also remained under pressure during the session.
The cautious mood at the PSX mirrored broader trends across Asian markets. Regional equities weakened as investors reacted to escalating tensions in the Middle East and a fresh rise in oil prices, raising concerns about inflation and global economic growth.
MSCI’s broad Asia-Pacific index outside Japan slipped 0.6 percent. Japan’s Nikkei fell 0.9 percent, while South Korea’s KOSPI dropped 2 percent in volatile trading.
Oil prices also moved higher. Brent crude rose 0.9 percent to $92.29 per barrel, while US West Texas Intermediate crude gained 0.8 percent to $88.97 a barrel after renewed geopolitical concerns pushed energy markets back into focus.
The latest developments have left investors navigating a difficult environment where global headlines continue to influence sentiment on the trading floor.
