KSE-100 closes 210.36 points higher as investors mull IMF deal, earnings signals
The Pakistan Stock Exchange (PSX) witnessed a volatile trading session on Wednesday, with the KSE-100 index closing marginally higher by 210.36 points, or 0.13 per cent at 165,686.38. The index traded in a wide range, hitting an intra-day high of 167,561.69 and a low of 165,357.21.
Trading began with strong sentiment on Wednesday morning following the announcement of Pakistan’s staff-level agreement with the International Monetary Fund (IMF) for the Expanded Financing Facility (EFF) and the first review of the Resilience and Sustainability Mechanism (RSF).
This enthusiasm was short-lived, however, with investors engaging in cautious buying followed by profit-taking in the second half of the day, a sign of a wait-and-see approach as they monitor the implementation of reforms and upcoming disbursements.
Arif Habib Limited (AHL) observed that the PSX underwent consolidation after Tuesday’s rise, with the KSE-100 moving either side of 166,000.
Some 52 stocks rose while 48 fell, with Fauji Fertilizer (+1.09%), Meezan Bank (+2.02%) and Mari Energies (+1.94%) contributing the most to the index’s gains.
Pakistan has reached a preliminary agreement with the IMF to release $1.2 billion in loans under two separate programs.
Read: Pakistan, IMF reach staff-level agreement for $1.2 billion disbursement
Systems Limited (-2.59%), Lucky Cement (-1.84%) and Engro Fertilizer (-2.69%) were the biggest drags on the index.
In corporate news, United Bank announced its results for the nine months of calendar year 2025 (9MCY25), reporting a 101% year-on-year (YoY) increase in earnings per share (EPS) of Rs40.19 and dividend per share (DPS) of Rs21.5, which exceeded market expectations.
SAZGAR Engineering reported EPS of Rs73.07 for financial year 2026 (1QFY26), reflecting 5% YoY growth and DPS of Rs15.0, which was in line with market expectations.
Engro Fertilizer disclosed its financial results for 9MCY25, with EPS of Rs10.69, showing a decline of 21% YoY and DPS of Rs11.0, lower than market expectations.
The declines anticipated by the AHL in Tuesday’s range should allow demand to move towards 168,000.
KTrade Securities wrote in its market envelope that the PSX opened on a bullish note with the benchmark KSE100 index hitting an intra-day high of 167,562 points (+2,086 points), driven by strong investor optimism following the agreement between the IMF Staff (SLA) and the Government of Pakistan under the Expanded Financing Facility (EFF).
Learn more: IMF calls for anti-corruption action in government entities
However, profit-taking in the second half of the session pared the gains and the index eventually stabilized at 165,686 points, up slightly by 210 points from the previous close. The rally was led by commercial banks, supported by United Bank’s stronger-than-expected 3QCY25 results, while the power, OMC and fertilizer sectors also contributed to the uptrend, the report said.
Notable gainers include Fauji Fertiliser, Meezan Bank, Mari Energies, Bank Al Falah and Pakistan Services. Market participation remained robust, with total trading volume on the All-Share Index reaching 1.53 billion.
Investor confidence improved significantly on expectations of renewed IMF support and an associated disbursement of $1.2 billion, reinforcing optimism about macroeconomic stability and external financing prospects, KTrade added.
Total trading volume decreased to 1.52 billion shares from 1.17 billion on Tuesday. The value of trade stood at 68.6 billion rupees. K-Electric was the volume leader with 383.2 million shares traded, up Rs0.52 to close at Rs7.65.
