KSE-100 gains in early trade after previous session’s sharp sell-off while investors monitor global markets
KARACHI: The Pakistan Stock Exchange (PSX) staged a recovery on Thursday, with the benchmark KSE-100 Index rising nearly 500 points during early trading after suffering one of its steepest single-day declines in the previous session.
At 9:38am, the benchmark index stood at 180,744.48, gaining 884.88 points, or 0.49 percent, as investors returned to selective buying despite persistent geopolitical uncertainty in the Middle East.
Buying interest remained concentrated in oil and gas exploration companies, oil marketing firms, power generation companies and refineries. Major index-heavy stocks, including ARL, NRL, HUBCO, KE, MARI, OGDC, PPL, PSO, SNGPL, SSGC and WAFI, traded in positive territory during the opening session.
IMF outlook and previous losses remain in focus
Investor sentiment also reflected the International Monetary Fund’s latest World Economic Outlook, which projects Pakistan’s economy to expand by 3.5 percent in fiscal year 2026-27, below the government’s 4 percent target. The IMF also maintained its 3.6 percent growth forecast for FY2025-26.
The rebound followed Wednesday’s sharp decline, when the KSE-100 Index plunged 4,626.18 points, or 2.48 percent, as renewed US strikes on Iran and fears of a wider regional conflict triggered widespread panic selling.
Global markets react to rising oil prices
Asian equity markets traded higher on Thursday as technology shares recovered from recent losses. However, gains remained limited because rising oil prices renewed concerns over inflation and interest rates.
Brent crude extended gains for a third consecutive session after US President Donald Trump declared the interim agreement with Iran had ended. Although Trump later said he did not expect a return to full-scale war, Brent crude remained around $78.65 per barrel after briefly crossing $80 earlier in the week.
Meanwhile, investors continued monitoring global bond markets and expectations of further US Federal Reserve policy tightening, while optimism surrounding semiconductor stocks supported broader market sentiment across Asia.
