PSX posts minor gain amid volatile session

The Pakistan Stock Exchange (PSX) ended its losing streak on Thursday, though the benchmark KSE-100 Index remained largely flat amid a volatile trading session.

By the closing bell, the index stood at 166,283.55 points, up 138.21 points or 0.08%.

Key sectors, including commercial banks, cement, fertilizers, oil and gas exploration, OMCs, and power generation, saw renewed buying interest following early selling pressure.

On Wednesday, the PSX faced significant pressure as a wave of institutional selling, fueled by concerns over valuation fatigue and profit-taking following recent gains, drove the market into a sharp, broad-based decline.

The KSE-100 Index closed at 166,145.35, down 1,496.93 points.

Meanwhile, the Pakistani rupee strengthened slightly against the US dollar, gaining 0.07% during Thursday’s early inter-bank trading. By 10:30 am, the currency was at 280.25, up Rs0.21 from Wednesday’s close of 280.46.

Pakistan’s foreign exchange reserves surge $3.47 billion in one year

Pakistan’s total foreign exchange reserves increased by 3 billion 476.5 million dollars in one year, and with the expected approval of IMF funds next week, the reserves may rise further. According to State Bank documents, the State Bank’s reserves increased by 2 billion 522.8 million dollars in one year, while during the same period, commercial banks’ reserves recorded an increase of 953.7 million dollars. According to the documents, total foreign exchange reserves have now reached 19 billion 605 million dollars, of which the State Bank holds 14 billion 560.7 million dollars, and commercial banks hold 5 billion 443 million dollars. […]

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