KEY POINTS
- KSE-100 Index closes at 166,283.55, up 138 points after volatile trade
- Investor sentiment improves on news of live-broadcast PIA privatisation bidding
- LPL leads volumes amid ongoing share buyback; PIAHCLA and PTCL also active
- Asian markets mixed; rupee posts marginal gain against the US dollar
ISLAMABAD: Pakistan’s equity market stabilised on Thursday as the KSE-100 Index managed a modest recovery, closing in positive territory after a range-bound session shaped by selective buying and shifting intraday sentiment.
The benchmark index settled at 166,283.55, up 138.20 points or 0.08 per cent, after oscillating between an intra-day high of 166,837.10 and a low of 165,886.26.
The uptick came a day after the market absorbed heavy institutional selling triggered by concerns over valuation fatigue.
Brokerage commentary pointed to renewed buying interest after the Prime Minister announced that the bidding process for the privatisation of Pakistan International Airlines would be broadcast live on national television on 23 December.
The development lifted sentiment around PIAHCLA, which saw healthy trading volumes.
Lalpir Power (LPL) emerged as the session’s most actively traded stock, with over 108 million shares changing hands.
The activity aligned with the company’s ongoing share buyback programme, disclosed in a recent exchange notice. PTCL and PIAHCLA were also among the day’s leading volume contributors.
Market support also came from key heavyweights, including SRVI, PIOC, PTC, ENGROH and PPL, which collectively added nearly 300 points to the index, according to analysts.
Across the broader market, 607.79 million shares were traded, higher than Wednesday’s total. The value of traded shares stood at Rs 31.22 billion, lower than the previous session’s Rs 44.42 billion.
Of 477 companies traded, 203 advanced, 223 declined, and 51 remained unchanged.
On the currency front, the Pakistani rupee recorded a marginal gain in the interbank market, closing at 280.45 against the US dollar.
Regional markets presented a mixed picture. The US dollar dipped to a five-week low, while Asian stocks opened unevenly after weaker US economic data reinforced expectations of a Federal Reserve rate cut next week.
Japan’s Nikkei gained 0.8 per cent, MSCI’s Asia-Pacific index outside Japan eased 0.1 per cent, and US futures traded flat.
