Slug: psx-kse-100-gains-779-points-wednesday
Category: Business News
Focus keyphrase: KSE-100 index
SEO title: KSE-100 Index Gains 779 Points in Late Recovery
Meta description: KSE-100 gained 779.34 points Wednesday to close at 165,930.99 as banks and energy stocks led a late recovery. Traded value hit Rs21.28bn.
Tags: KSE-100, PSX, Pakistan Stock Exchange, stock market Pakistan, HUBC, banking stocks, market recovery, KSE-100 index
Original element: our own data point + explainer context — links our own Tuesday coverage (814-point fall) to frame the two-day swing; explainer on selective buying and what the SBP’s October 26 rate decision means for the market.
KSE-100 Claws Back 779 Points as Banks and Energy Lead Late Recovery
The KSE-100 index staged a late-session comeback on Wednesday, gaining 779.34 points to close at 165,930.99 and wiping out most of the previous day’s losses as investors returned to banks and energy stocks.
The benchmark had opened on a weak note and slipped to an intraday low of 164,731.90 in early trading. Buying interest picked up through the afternoon, and the index touched a high of 166,242.43 before settling 0.47 per cent higher. In the previous session, the index had shed 814 points to close at 165,151.64.
Fresh buying emerged after the recent spell of weakness, with investors picking up select stocks at lower levels. Commercial banks contributed 321.75 points to the recovery, followed by oil and gas exploration companies with 193.73 points and power generation and distribution with 185.42 points. Cement and automobile assemblers also closed higher.
Banks and energy stocks drive the KSE-100 index higher
Hub Power (HUBC) led the index-point gains with a contribution of 124 points. Habib Bank added 119.49 points, United Bank 118.27 points, OGDC 69.83 points and Mari Energies 62.92 points. Of the 100 index companies, 65 closed higher and 35 ended lower.
Selling pressure in refinery and technology stocks kept the gains in check. Attock Refinery dragged the index down by 80.75 points, while Systems Limited cost 31.53 points and Fatima Fertilizer 26.24 points. Engro Holdings and Fauji Cement also closed in the red.
Among individual stocks, Unilever Foods (UPFL) hit its upper circuit with a 10 per cent gain. Nishat Chunian Power rose 9.53 per cent and Nishat Power 9.47 per cent. On the losing side, Attock Refinery fell 4.47 per cent and Fatima Fertilizer 1.70 per cent.
Volumes stay thin despite the rebound
Trading activity remained subdued. The KSE-100 recorded volume of 130.24 million shares, while total market volume stood at 379.90 million shares, down from 446.84 million in the previous session. Traded value, however, rose to Rs21.28 billion from Rs19.43 billion, an increase of Rs1.86 billion.
Market capitalisation climbed to Rs18.385 trillion from Rs18.309 trillion. In the ready market, 225 companies advanced, 230 declined and 42 remained unchanged out of 497 traded.
The broader All-Share Index gained 449.84 points, or 0.45 per cent, to close at 100,610.48.
What the two-day swing tells investors
The back-to-back sessions tell a clear story. Tuesday’s 814-point fall came on rising oil prices and cautious sentiment, with investors trimming positions ahead of key events. Wednesday’s 779-point recovery shows that buyers are willing to step in when prices dip, but only in stocks with strong fundamentals.
Analysts say the market is likely to stay volatile in the near term. Investors are watching corporate results, upcoming dividend announcements and the State Bank’s monetary policy decision on October 26. With headline inflation expected near 10 per cent in October, the rate decision could set the tone for equities through November.
For now, the strategy on the trading floor is selective. Banks and energy companies with solid earnings are attracting money, while debt-heavy and cyclical names face selling. A sustained recovery in volumes will be needed before the market can build on Wednesday’s gains.
Read more: KSE-100 sheds 814 points on Tuesday | Inflation heads for 10% as rate decision looms | Nishat Chunian to buy back 5 crore shares | Petrol falls Rs2.71 as diesel climbs
Sources: ARY News, Mettis Global
Why did the KSE-100 rise on Wednesday?
The index gained 779.34 points as investors bought banks and energy stocks at lower levels after Tuesday’s 814-point fall. Late-session buying pushed the index to 165,930.99.
Which stocks led the recovery?
Hub Power, Habib Bank, United Bank, OGDC and Mari Energies were the top contributors. Commercial banks as a sector added 321.75 points to the index.
What are investors watching next?
Corporate earnings, dividend announcements and the State Bank’s monetary policy decision on October 26, with inflation expected near 10 per cent in October.
