Stocks stage partial recovery amid uncertainty
KARACHI: The Pakistan Stock Exchange (PSX) on Wednesday recovered some losses from the week’s first two sessions amid persistent regional and political tensions. Attractive valuations drew investors back to cherry-pick stocks, pushing the benchmark KSE-100 index above the psychological 165,000 mark after it moved in both directions. Elevated oil prices and the imposition of governor’s rule in the…
The Pakistan Stock Exchange (PSX) experienced a partial recovery on Wednesday, following a volatile session marked by persistent regional and political tensions. The benchmark KSE-100 index climbed above the psychological 165,000 mark, closing at 165,417.51, up 0.39 percent, after experiencing a volatile intraday range of 852 points.
The recovery was driven by attractive valuations and value hunting, with top contributors including Engro Holdings, Lucky Cement, Fauji Fertiliser, Bank Al-Habib, and National Bank, collectively adding 381 points. However, sentiment remains cautious, with major laggards like MCB Bank, Hub Power, Pakistan Oilfield, Pakistan Telecommunication Company, and National Foods Ltd eroding 132 points.
Despite improved trading volumes, US-Iran tensions, high oil prices, and domestic political uncertainty could limit gains and maintain volatility in the near term.
Brief written by urgent.news from Dawn Business's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
