Pakistan’s KSE-100 index rises 0.67% after sharp decline — Dawn
On September 18, the KSE-100 index at the Pakistan Stock Exchange in Karachi rose by 1,021.40 points, or 0.67%, to 169,043.20 points. This allowed it to partially recoup losses after a sharp decline during the previous trading session, Dawn reports.
Fluctuations and trading activity
According to Topline Securities, during trading the index fluctuated between 168,223 and 169,577 points, indicating high volatility despite the positive close. The recovery was supported by selective purchases of shares in companies with a large weight in the index following the recent correction.
Trading volume rose by 8.48% to 386.3 million shares, while their value increased by 3.10% to 20.09 billion Pakistani rupees. The highest trading volume was recorded in Media Times Ltd shares, with 42 million securities traded.
Investor sentiment
Ali Najib, deputy head of the trading division at Arif Habib Ltd, said investor sentiment improved after statements by U.S. President Donald Trump indicated that the end of the war with Iran could be nearing. Lower oil prices were an additional factor. Reports that additional shipments of Saudi oil were being routed through Oman also eased concerns over possible supply disruptions.
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Pakistan Petroleum, United Bank, Mari Energies, Bank Alfalah, Habib Bank, Engro Holdings, Lucky Cement, Oil and Gas Development Company, Meezan Bank, and Maple Leaf Cement Factory made the largest positive contribution to the index’s performance. Together, they added 717 points to the index.
National Bank informed the exchange that Pakistan’s Federal Constitutional Court on September 16 announced a ruling on pensioners’ right to pension increases announced by the government and rejected the bank’s appeal.
At the same time, market participants remained cautious due to oil prices, the geopolitical situation, domestic macroeconomic indicators, and institutional flows. Analysts noted that buying interest could strengthen if geopolitical tensions and oil prices decline, while expensive energy resources, risks to the external sector, and the upcoming review of the IMF program will remain important factors for the market.
