Buying gathered pace at the Pakistan Stock Exchange on Wednesday, pushing the benchmark KSE-100 Index sharply higher in the opening hours and keeping momentum intact by midday.
By 11:55am, the index was hovering around 157,385 points, up by more than 3,400 points, showing a gain of over 2.2 percent. Just minutes earlier, the market had climbed even higher to an intraday peak of 157,435 points, reflecting strong investor interest across the board.
The rally remained steady through the session, with the index staying in positive territory around 12:10pm. Earlier in the day, the market had opened lower at around 155,199 points before quickly reversing course as buyers stepped in.
Broad-based buying across key sectors
Market activity showed widespread participation, with major sectors such as automobile assemblers, cement, commercial banks, fertiliser, oil and gas exploration, oil marketing companies, power generation and refineries all trading higher.
Heavily weighted stocks drove much of the gains, including Attock Refinery, Hub Power, Pakistan State Oil, Mari Energies, OGDC, Pakistan Oilfields, Pakistan Petroleum, Habib Bank, MCB Bank and Meezan Bank, all of which remained in the green.
Trading volumes also picked up as the session progressed, crossing 147 million shares by around noon, indicating active participation from investors.
Among the most actively traded stocks were Unity Foods, K-Electric, Fauji Cement, Nishat Chunian Power, WorldCall Telecom and Cnergyico. Banking names such as Bank of Punjab also saw steady interest, alongside cement and real estate plays.
On the gaining side, several smaller stocks posted strong advances, with some hitting double-digit percentage gains. However, a few shares moved in the opposite direction, with select companies witnessing notable declines during the session.
Positive global cues support sentiment
The upbeat trend followed a modest gain in the previous session, when the KSE-100 Index had closed at 153,966 points, rising by nearly 1,226 points as profit-taking kept gains in check.
Investor confidence on Wednesday was also supported by encouraging global developments. International markets moved higher after reports suggested progress in talks involving the US and Iran, raising hopes of a possible easing in geopolitical tensions.
Asian markets, including those in Japan, South Korea and Australia, recorded gains of around 2 percent, while US futures also pointed to a stronger opening. Meanwhile, oil prices fell, with Brent crude dropping to around $98 per barrel, adding to the positive mood in equities.
Overall, the local market remained firm through midday, with investors continuing to build positions amid improving sentiment both at home and abroad.
