PSX ends two-day slump, recovers volume

KARACHI (Commerce Reporter): Pakistan Stock Exchange staged a comeback after two days of decline, closing on a positive note on Wednesday with improved trading activity.

The benchmark KSE-100 Index closed at 165,417 points after gaining 641 points during the day. The index remained volatile, touching an intraday high of 165,629 points and a low of 164,060 points, but late-session buying helped it settle in the green.

Trading activity also showed a medium recovery. A total of 585.9 million shares worth Rs 20.07 billion were traded, compared to thin volumes in the last two bearish sessions.

Market breadth remained relatively positive. Out of 571 companies traded, 256 advanced, 200 declined, and 115 remained unchanged, indicating selective buying across sectors.

According to analysts, the market recovered on the back of value buying in banking and energy stocks after the recent correction. Investor sentiment improved as institutional buying was witnessed at lower levels.

The two-day losing streak had kept investors cautious, but improved volumes suggest confidence is gradually returning. Analysts said that investors are now focusing on upcoming corporate results and economic indicators.

Experts expect the market to remain range-bound with upward bias in the near term, provided that trading volumes sustain and external factors remain stable. They advise investors to stay focused on fundamentally strong stocks with strong earnings outlook.