The Pakistan Stock Exchange (PSX) ended a volatile session slightly higher on Wednesday, with the KSE-100 Index gaining 210.36 points or 0.13% to close at 165,686.38. The market initially surged on optimism after Pakistan reached a staff-level agreement with the IMF under the Extended Fund Facility (EFF) and Resilience and Sustainability Facility (RSF), unlocking around $1.2 billion in loans.
However, investors later opted for profit-taking, trimming early gains as they adopted a cautious stance ahead of policy implementation and disbursements. Trading volumes reached 1.52 billion shares, valued at Rs68.6 billion, with K-Electric leading activity at 383 million shares.
Major gainers included Meezan Bank, Fauji Fertiliser, and Mari Energies, while Systems Limited, Lucky Cement, and Engro Fertiliser dragged the index lower.
In corporate developments, United Bank Limited (UBL) reported a 101% year-on-year jump in earnings per share to Rs40.19 with a dividend of Rs21.5, beating market expectations. Meanwhile, SAZGAR Engineering posted steady growth, and Engro Fertiliser reported a decline in profits.
Analysts from Arif Habib Limited noted that the market “underwent consolidation following Tuesday’s surge,” while KTrade Securities added that optimism from the IMF deal “reinforced investor confidence in Pakistan’s macroeconomic stability.”
An analyst remarked,
“Profit-taking was natural after the IMF announcement, but overall sentiment remains positive as external financing prospects improve.”