KARACHI: Contrary to the usual choppy conditions during a rollover week, and despite depressed unemployment numbers, the Pakistan Stock Exchange (PSX) experienced an unexpected recovery rally on Wednesday, breaking a three-session losing streak, primarily fuelled by late value-hunting.

According to Topline Securities Ltd, the benchmark KSE-100 index ended the session on a strong upward trajectory, closing at 163,188.53 points, up 1,496.04 points or 0.93 per cent. The benchmark index fluctuated between an intraday high of 163,397.24 and a low of 160,564.86. Although the market opened on a volatile note, sustained institutional buying later in the session provided much-needed stability and momentum.

Fauji Fertiliser, Meezan Bank, Habib Bank, National Bank and Oil and Gas Development Company acted as the primary drivers of this rally, collectively contributing around 1,058 points to the benchmark’s overall advance.

Market participation improved, with total trading volume rising 7.76pc to 636.4 million shares, while traded value surged by 39.59pc to Rs30.9 billion. WorldCall Telecom emer­ged as the volume leader for the day, recording 47 million shares traded.

Ali Najib, Deputy Head of Trading at Arif Habib Ltd, said signs of recovery emerged despite a flattish opening, during which the market quickly came under selling pressure. However, value-hunters stepped in, providing much-needed support and helping the benchmark rebound into positive territory by the close.

Analysts believe market momentum is strengthening as rollover week progresses. The index is exp­e­cted to maintain a positive trend and may appr­o­ach the 165,000 level in the remaining two sessions.

On the macro front, Pakistan’s unemployment rate climbed to 7.1 per cent, the highest in 21 years. The planning minister attributed this rise to the IMF programme and climate-related disruptions, which constrained economic activity and job creation. The number of unemployed increased by 31pc, or 1.4 million, rising from 4.5m in 2020-21 to 5.9m in 2024-25.

Published in Dawn, November 27th, 2025