PSX gains 650 points in early trade

The Pakistan Stock Exchange (PSX) witnessed a strong recovery on Wednesday as investors returned to the market with renewed buying interest, pushing the benchmark KSE-100 Index up by more than 600 points during the opening hours of trading.

The Pakistan Stock Exchange (PSX) witnessed a strong recovery on Wednesday as investors returned to the market with renewed buying interest, pushing the benchmark KSE-100 Index up by more than 600 points during the opening hours of trading.

Market data showed that by 10:05am, the KSE-100 Index had climbed 652.68 points, or 0.37 percent, to reach 178,345.60 points. The positive momentum reflected improved investor sentiment after two consecutive sessions of losses and a cautious market environment driven by regional geopolitical concerns.

The rally was supported by widespread buying across major sectors of the market. Automobile assemblers, cement manufacturers, commercial banks, fertilizer companies, oil and gas exploration firms, oil marketing companies (OMCs), and power generation stocks all recorded gains during early trading.

Several heavyweight stocks played a key role in lifting the benchmark index. Shares of K-Electric, Mari Energies, Oil and Gas Development Company (OGDC), Pakistan Oilfields Limited (POL), Pakistan Petroleum Limited (PPL), Habib Bank Limited (HBL), MCB Bank, National Bank of Pakistan (NBP), and United Bank Limited (UBL) traded in positive territory, contributing significantly to the market’s upward movement.

The recovery comes a day after the PSX endured another volatile session. On Tuesday, investors remained cautious amid uncertainty surrounding regional developments and continued profit-taking in major sectors. The benchmark KSE-100 Index closed lower by 778.95 points, or 0.44 percent, ending the session at 177,692.92 points.

Market participants noted that bargain hunting in fundamentally strong stocks helped improve sentiment at the start of Wednesday’s session. Investors also appeared encouraged by attractive valuations following recent declines in key sectors.

Meanwhile, global financial markets remained under pressure as concerns over the outlook for technology stocks and monetary policy weighed on investor confidence. Asian equity markets traded mixed on Wednesday after a broad sell-off in technology and semiconductor shares triggered volatility across international markets.

MSCI’s broad Asia-Pacific index outside Japan was little changed, while South Korean equities staged a notable rebound after suffering their sharpest daily decline since March. Japanese stocks fluctuated between gains and losses as investors assessed global market risks.

Overnight, Wall Street ended lower as concerns mounted over rising artificial intelligence-related spending, growing government debt levels, and speculation that the U.S. Federal Reserve could maintain a tighter monetary policy stance for longer than previously expected.

The Dow Jones Industrial Average posted a modest decline of 0.09 percent, while the S&P 500 and Nasdaq Composite fell 1.4 percent and 2.2 percent, respectively. Demand for safer assets pushed U.S. Treasury yields slightly lower as investors sought protection from market uncertainty.

In commodity markets, oil prices continued their downward trend, hovering near four-month lows. Analysts attributed the weakness to signs that tanker movements through the Strait of Hormuz were gradually normalizing, easing concerns over potential supply disruptions linked to tensions involving Iran.