KARACHI: The Pakistan Stock Exchange (PSX) rebounded on Friday, shrugging off the panic-selling that had followed the bail granted to former prime minister Imran Khan in the May 9 cases.
As fears of political instability eased, investors engaged in value-hunting, restoring confidence in the market.
According to Topline Securities, the trading session was range-bound, with the KSE-100 index fluctuating between an intraday high of 1,230 points and a low of 214 points, ultimately closing at 149,493, up 258 points or 0.17 per cent. The top contributors to the index were Fauji Fertiliser, National Bank of Pakistan, Askari Bank, Oil and Gas Development Company, and Pakistan State Oil (PSO), which collectively added 289 points. Conversely, losses from The Searle Company, Meezan Bank, Engro Holdings, Lucky Cement, and Engro Fertiliser offset some of these gains, resulting in a -289-point dip.
Ali Najib, Deputy Head of Trading at Arif Habib Ltd, noted that the market ended the week on a neutral note. While the morning saw some optimism with modest gains, profit-taking in the afternoon and position-squaring ahead of the weekend capped the momentum.
Market volumes were steady but lower than usual, with a total of 800.9 million shares traded and a turnover of Rs 40.4 billion. UNITY emerged as the volume leader, trading 64 million shares.
The market saw a tug of war between the bulls and bears, with neither side prevailing as the PSX steadied heading into the weekend. After briefly breaching the psychological barrier of 150,000 points earlier in the week, the KSE-100 index is now consolidating around this level.
With the upcoming “roll-over” week, some selling pressure is expected as investors adjust their positions, and a correction is likely, with 148,000 seen as a key support level. Ahsan Mehanti of Arif Habib Corporation attributed the market’s recovery to the strengthening of Pakistan-China trade ties, ongoing discussions about CPEC, rising foreign exchange reserves, and government efforts to address circular debt and stabilise the rupee.
Published in Dawn, August 23rd, 2025
