PSX Sees Volatile Trading Amid Regional Uncertainty

News Desk

KARACHI: The Pakistan Stock Exchange (PSX) experienced significant volatility on Wednesday, opening positively and extending the previous session’s bullish momentum. However, mid-session profit-taking led the benchmark KSE-100 index to dip into negative territory before a late recovery.

According to Topline Securities Ltd, the index fluctuated throughout the day, reaching an intraday high of 169,271.99, a gain of 812 points, before closing at 168,580.41, up 120.30 points or 0.07 percent.

The index also recorded an intraday low of 394 points at 168,065.87, reflecting the cautious trading environment influenced by regional and political uncertainties.

The rise in international oil prices, with Brent crude surpassing $100 per barrel, added to investor caution, limiting broader market momentum.

Major gainers included United Bank, Systems Ltd, Pakistan State Oil, Pakistan Telecommunications Company, and K-Electric, which collectively contributed 300 points to the index.

In contrast, Mari Energies, Meezan Bank, Lucky Cement, Hub Power, and Oil and Gas Development Company lagged behind.

Looking ahead, market analysts anticipate continued fluctuations in the PSX as investors remain vigilant amid ongoing geopolitical tensions and economic indicators.

Stakeholders are advised to monitor developments closely as the market adjusts to external pressures.