PSX extends recovery for fourth session

Breadth was modestly positive, with 55 constituents advancing against 43 decliners, and the bulk of index points came from fertiliser (FFC) and bank (HBL) names, while NBP, DGKC and POL were the principal drags.Among corporate results, PPL posted 1QFY27 earnings of Rs9.26 per share (+25% year-on-year), driven largely by a 26% jump in oil prices, and PSO reported earnings of Rs54.44 per share (+172% year-on-year), supported by higher volumes, petroleum….

In geopolitical developments, Qatari mediators presented Iran with a revised draft proposal aimed at ending hostilities with the US and Israel, though Iranian officials did not give any indication of acceptance."The market continues to recover from the mid-October sell-off, with gains concentrated in banks and fertiliser stocks while oil-linked names registered mixed results with price support.

Volume was the heaviest in several weeks, confirming broad participation in the bounce, yet the proximity to resistance and the still-open 160k level keep the near-term technical picture two-sided," AHL added.Topline's market review highlighted that the PSX extended its bullish momentum for the fourth consecutive session, where the benchmark index advanced 1,457 points (+0.88%) to close at 167,193.

The bourse maintained its upward trajectory throughout the session, reflecting sustained buying interest across key sectors and an improvement in investor sentiment amid ongoing corporate earnings announcements.The index traded within the intra-day range of 165,907 to 167,483, demonstrating resilience and a strong recovery from its intra-day lows.

The positive momentum was primarily driven by renewed buying interest in heavyweight banking and fertiliser stocks, while encouraging market participation further reinforced the bullish sentiment, Topline said.Market activity was strong as overall trading volumes were recorded at 816.83 million shares compared with the previous session's tally of 578.12 million.

The value of shares traded during the day was Rs31.54 billion.Shares of 499 companies were traded.

Of these, 232 stocks closed higher, another 232 fell, and 35 remained unchanged.Cnergyico Pk was the volume leader with trading in 184 million shares, gaining Rs1.28 to close at Rs14.08.

It was followed by Pervez Ahmed Consultancy with 81.1 million shares, gaining Rs0.73 to close at Rs4.40 and K-Electric with 46.8 million shares, gaining Rs0.13 to close at Rs5.96.

Foreign investors sold shares worth Rs1.2 billion, the National Clearing Company reported.

PSX extends recovery for fourth session Our Correspondent | Updated 8 seconds ago | KSE-100 rises 0.88% as fertiliser firms, banks lift index to multi-week high.