PSX rebounds on blue-chip buying

Index climbs 837 points to close above 150k, driven by late-session rally

KARACHI:

A turbulent session unfolded at the Pakistan Stock Exchange (PSX) on Tuesday, though the market opened on a strong footing, supported by positive overnight cues from the US and Asian markets.

The benchmark KSE-100 index displayed significant volatility, reflecting cautious sentiment despite early optimism. The index swung sharply, moving between the high of 151,503 and low of 148,509 as investors balanced cautious selling with selective buying.

Around 11am, the index was seen trading at 149,861, up 683 points, underscoring a positive undertone. In spite of mid-session pressure, renewed interest in select blue chips later in the day helped the bourse recover, lifting it above the key 150,000 threshold. At close, the KSE-100 registered a modest rise of 837.50 points, or 0.56%, and settled at 150,016.16.

KTrade Securities, in its market wrap, wrote that the benchmark index staged a modest recovery, closing at 150,016, up 837 points, and snapping the recent streak of negative sessions as selective buying emerged in blue-chip names. In the morning, sentiment was supported by positive overnight cues from the US and Asian markets, helping the index regain some footing despite underlying caution.

Market activity remained relatively subdued in line with pre-Eid softness as investors trimmed positions and largely stayed on the sidelines ahead of holidays. The muted participation suggested that the day's upside was driven more by selective institutional flows rather than broad-based buying.

Gains were led by heavyweight sectors including commercial banks, oil & gas, power and investment companies. Key index movers were MCB Bank, UBL, Hub Power, Pakistan Petroleum, Engro Holdings and Pakistan State Oil, while some pressure was observed in stocks of HBL, NBP and DG Khan Cement, which limited the overall upside. KTrade expected the market to remain range bound in the near term as investors weighed positive global cues against persistent concerns over the elevated oil prices, with Brent hovering above $100 per barrel.

According to Arif Habib Limited (AHL), the KSE-100 index staged a recovery back above the 150,000 mark, closing with a gain of 0.56%. Some 56 shares rose while 39 fell with MCB Bank (+4.47%), United Bank (+1.78%) and Hub Power (+2.2%) contributing the most to the index gains. In contrast, Habib Bank (-2.09%), National Bank (-1.77%) and DG Khan Cement (-3.14%) were the biggest index drags.

Latest data from the State Bank of Pakistan showed a current account surplus of $427 million in February 2026 compared to a deficit of $85 million in February 2025. Meanwhile, Prime Minister Shehbaz Sharif reassured the nation that the country had adequate supply of petroleum products and the government was prepared to manage any situation arising from global tensions. "158k remains the level to watch for to indicate that a sustainable recovery is underway," AHL added.

Topline Securities noted that the bourse saw a two-way session, swinging between the intra-day high of +2,324 points and low of -669 points before settling at 150,016, up 837 points (+0.56%). Though support came from stable oil prices and positive regional markets, volumes portrayed the real story. Activity stayed muted throughout the session, signalling that investors were still playing safe and waiting for a clear direction before making aggressive bets.

Among index-heavy stocks, MCB, UBL, Hub Power, PPL and Engro Holdings emerged as key gainers, collectively adding 737 points. On the flip side, HBL, NBP, DG Khan Cement, BOP and Fauji Cement weighed heavily on the market, wiping off 266 points, Topline wrote.

Overall trading volumes decreased to 260.4 million shares from Monday's tally of 298.3 million. The value of traded shares stood at Rs17.2 billion.

Shares of 475 companies were traded. Of these, 223 closed up, 182 fell and 70 remained unchanged.

The Bank of Punjab was the volume leader with trading in 32.3 million shares, losing Rs0.77 to close at Rs25.79. It was followed by K-Electric with 18.1 million shares, gaining Rs0.14 to close at Rs7.41 and WorldCall Telecom with 17.9 million shares, falling Rs0.02 to close at Rs1.19. Foreign investors sold shares worth Rs928.3 million, the National Clearing Company reported.