Buying momentum returned to the Pakistan Stock Exchange (PSX) on Wednesday, with the benchmark KSE-100 Index rebounding after Tuesday’s steep decline. At 11:20 AM, the index surged 741.35 points (0.62%) to reach 119,712.47, showing renewed investor confidence.
📊 Sector Highlights
Strong performance was seen in:
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Commercial Banks
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Oil & Gas Exploration
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OMCs (Oil Marketing Companies)
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Power Generation
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Refineries
Key contributors to the rally included HUBCO, NRL, PSO, SNGPL, SSGC, MARI, OGDC, POL, and PPL, all trading in the green.
🧨 Backdrop: Budget Concerns Eased?
The positive shift comes after a 700-point drop on Tuesday, driven by investor concerns over the upcoming FY2025-26 budget. Today’s recovery indicates potential bargain hunting and sector-based optimism ahead of fiscal announcements.
🌏 Global Market Context
Asian markets showed mixed signals:
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MSCI Asia-Pacific ex-Japan: ▲ 0.5%
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Hang Seng Index (HK): ▲ 0.58%
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Japan’s Nikkei: ▼ 0.18%
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China’s blue-chip index: flat
Crude oil prices rose over $1 per barrel following reports that Israel is preparing a strike on Iranian nuclear sites, fueling Middle East supply fears and geopolitical tension.
Meanwhile, bond markets remained jittery:
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Japanese 20-year bond yields: ▲ 2 bps
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30-year yields: ▼ 1.5 bps
Following weak auction demand, investors remain cautious about global debt sustainability.
🧠 Investor Sentiment
Despite lingering global uncertainties, local buying in index-heavy sectors and stability in energy markets helped PSX recover ground. Traders continue to monitor fiscal developments and geopolitical risks.
