PSX rises modestly amid profit-taking | The Express Tribune
Key Takeaways
- The Pakistan Stock Exchange (PSX) closed modestly higher by 210 points on Wednesday, following a day of consolidation.
- Initial strong sentiment was driven by a staff-level agreement between Pakistan and the IMF for loan disbursements.
- Profit-taking in the latter half of the trading day trimmed the initial bullish gains seen in the market.
- UBL announced significantly better-than-expected earnings for 9MCY25, positively impacting the banking sector.
- Total traded volumes were robust, reaching 1.53 billion shares, and the PSX conducted its first Bai' Muajjal auction.
The Pakistan Stock Exchange (PSX) witnessed a day of consolidation on Wednesday, settling modestly higher by 210 points after an initial bullish run fueled by the announcement of a staff-level agreement between Pakistan and the IMF regarding the Extended Fund Facility and Resilience and Sustainability Facility. The KSE-100 index moved in a wide band, hitting an intra-day high before settling at 165,686, as profit-taking in the latter half offset early optimism. Key contributors to the index gains included Fauji Fertiliser, Meezan Bank, and Mari Energies, while corporate results also played a role, notably UBL reporting significantly higher earnings per share. Market participation remained robust, with total traded volumes reaching 1.53 billion shares, and the PSX also conducted its first-ever Bai' Muajjal auction, marking a step for Islamic finance. Foreign investors, however, were net sellers during the session.
