Pakistan equities witnessed a volatile session on Wednesday as early optimism at the Pakistan Stock Exchange (PSX) gave way to selling pressure amid rising geo-political concerns.
The benchmark KSE-100 Index opened on a positive note and displayed resilience during early trading hours, gaining as much as 672.16 points by 9:45 am.
Buying activity was observed across key sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration companies, OMCs, power generation, and refinery stocks.
The initial rally was largely driven by the State Bank of Pakistan’s announcement that it had received $1.3 billion from the International Monetary Fund (IMF) under the Extended Fund Facility (EFF) and the Resilience and Sustainability Facility (RSF), boosting investor confidence.
However, the momentum proved short-lived as geopolitical jitters dampened market sentiment, prompting investors to take profits and offload positions.