KSE-100 closes 210.36 points higher as investors assess IMF deal, earnings signals
The Pakistan Stock Exchange (PSX) witnessed a volatile trading session on Wednesday with the KSE-100 index closing slightly higher by 210.36 points, or 0.13%, at 165,686.38. The index traded within a wide range, reaching an intraday high of 167,561.69 and a low of 165,357.21.
Trading began with strong sentiment on Wednesday morning after news broke about Pakistan’s staff-level agreement with the International Monetary Fund (IMF) for the Expanded Fund Facility (SEF) and the first review under the Resilience and Sustainability Fund (RSF).
However, the enthusiasm was short-lived as investors made cautious buying followed by profit-taking in the second half of the day, indicating a wait-and-see approach as they monitor the implementation of reforms and upcoming disbursements.
Arif Habib Limited (AHL) noted that PSX consolidated after Tuesday’s rise with the KSE-100 straddling 166k.
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 unlock $1.2 billion in loans under two separate programmes.
Read: Pakistan and IMF reach staff-level agreement for disbursement of $1.2 billion
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 earnings for the nine months of calendar year 2025 (9MCY25), reporting a 101% year-on-year (YoY) increase in earnings per share (EPS) of Rs 40.19 and dividend per share (DPS) of Rs 21.5, which exceeded market expectations.
SAZGAR Engineering posted an EPS of Rs 73.07 for fiscal year 2026 (1QFY26), reflecting a YoY growth of 5% and a DPS of Rs 15.0, which was in line with market expectations.
Engro Fertilizer revealed its financial results for 9MCY25, with EPS of Rs 10.69, showing a YoY decline of 21% and DPS of Rs 11.0, which was below market expectations.
AHL’s forecast declines into Tuesday’s range should push demand towards 168,000.
KTrade Securities wrote in its market summary that PSX opened on a bullish note, with the KSE100 benchmark index hitting an intraday high of 167,562 points (+2,086 points), driven by strong investor optimism following the IMF’s Staff Level Agreement (SLA) with the Government of Pakistan under the Expanded Fund Facility (EFF).
Read more: IMF urges anti-corruption measures in government entities
However, profit-taking in the second half of the session reduced the gains and the index eventually settled at 165,686 points, a modest increase of 210 points from the previous close. The rally was led by commercial banks, boosted by better-than-expected 3TCY25 results from United Bank, while the energy, OMC and fertilizer sectors also contributed to the uptrend, the report said.
Notable winners include Fauji Fertiliser, Meezan Bank, Mari Energies, Bank Al Falah and Pakistan Services. Market participation remained strong, with total trading volume on the All-Share Index reaching 1.53 billion.
Investor confidence improved significantly on expectations of renewed IMF support and the corresponding disbursement of $1.2 billion, reinforcing optimism regarding macroeconomic stability and external financing prospects, KTrade added.
Overall, trading volume decreased to 1.52 billion shares from Tuesday’s figure of 1.17 billion. The trade value amounted to Rs 68.6 billion. K-Electric was the volume leader with trading of 383.2 million shares, rising by Rs 0.52 to close at Rs 7.65.
