The Pakistan Stock Exchange (PSX) reversed the two-day losing streak on Wednesday with the benchmark KSE-100 Index gaining nearly 1,900 points.
At close, the benchmark index settled at 179,571.26, an increase of 1,878.34 points or 1.06%.
The Pakistan Stock Exchange (PSX) witnessed renewed buying interest on Wednesday, with investors accumulating shares across major sectors such as automobile assemblers, cement, commercial banks, fertilizer, oil and gas exploration companies, oil marketing companies (OMCs), and power generation firms. Index-heavy stocks including KML, MARI, OGDC, PPL, PAEL, and UBL posted gains, helping improve overall market sentiment.
The positive momentum followed a weak session on Tuesday, when the market remained under pressure amid investor caution over regional geopolitical uncertainties.
Profit-taking in heavyweight sectors further weighed on sentiment, resulting in a second straight day of losses. Consequently, the benchmark KSE-100 Index closed 778.95 points lower, or 0.44%, settling at 177,692.92 points.
Meanwhile, international oil prices continued their downward trend on Wednesday, extending losses recorded earlier in the week. Crude prices dropped by more than 1% as signs emerged that additional oil tankers stranded in the Gulf were preparing to pass through the Strait of Hormuz, easing concerns about potential supply disruptions.
Brent crude futures declined 78 cents, or 1.0%, to $76.30 per barrel, while US West Texas Intermediate (WTI) crude fell 78 cents, or 1.1%, to $72.43 per barrel.
