Stocks stage mild recovery on selective buying
KARACHI: The Pakistan Stock Exchange (PSX) posted marginal gains on Wednesday before falling below the 165,000 mark as cautious trading continued amid persistent economic and political uncertainty. Topline Securities Ltd said the KSE-100 index staged a recovery, gaining 779.35 points, or 0.47 per cent, to close at 165,930.99 after two consecutive sessions of losses. The benchmark traded between…
The Pakistan Stock Exchange (PSX) experienced a mild recovery on Wednesday, with the KSE-100 index gaining 0.47% to close at 165,930.99, after two days of losses. Selective buying emerged at lower levels, with top contributors including United Bank, Hub Power, Habib Bank, Oil and Gas Development Company, and Mari Energies, collectively adding approximately 493 points.
The auto sector saw positive momentum due to optimism surrounding the new draft Auto Policy 2026-31, while the refinery sector faced earnings pressure following a reduction in the high-speed diesel crack spread. Despite the positive trend, market activity weakened as trading volume declined by 14.98%, although turnover rose by 9.54%.
Analysts suggest that institutional buying, optimism about US-Iran diplomatic efforts, and renewed interest in auto stocks could sustain the market's positive momentum, but geopolitical uncertainty and evolving macroeconomic risks may keep volatility elevated, favoring a selective investment approach.
Brief written by urgent.news from Dawn Business's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
