PSX climbs 2,837 points as recovery momentum builds

KSE-100 rebounds with 1.62% gain after sharp Tuesday selloff

KARACHI:

The KSE-100 Index extended its recovery for a second straight session on Thursday, gaining over 2,830 points to close at over 178,120 points.

The KSE-100 Index extended its recovery for a second consecutive session, demonstrating resilience after Tuesday's sharp 3.56% sell-off, which appeared to be an overreaction despite relatively stable Asian markets and positive US equities, said Ahmed Sheraz of KASB KTrade.

The rebound reflects improving investor confidence and a more measured approach by market participants following the earlier wave of panic selling.

The benchmark index closed at 178,123 points, gaining 2,837 points or 1.62% DoD. Trading activity remained healthy, with 311 million shares exchanged during the session. Volume leaders were LOTCHEM, TPLRF1, CNERGY, and BOP, indicating continued participation in selected high-volume stocks.

Read: PSX regains ground, ends up 1,767 points

The rally was primarily driven by heavyweight sectors, with commercial banks, cement, investment banking, fertiliser, and power stocks leading the advance. Major positive contributions came from ENGROH, UBL, and MEBL, highlighting renewed buying interest in fundamentally strong blue-chip names.

Overall, the market has recovered strongly over the past two sessions, suggesting that investors are regaining confidence and that the earlier selloff was largely sentiment-driven rather than fundamentally justified.

Going forward, sustained institutional participation and a stable external environment will remain key to maintaining the positive momentum.