The KSE-100 Index finished with a 0.37% increase on Thursday as late-session buying helped erase intra-day losses.
The benchmark index opened on a negative note, hitting an intra-day low of 47, 893.71. However, gains in the latter part of the session helped it pare the early losses.
At close, the KSE-100 settled at 48,325.84, up 179.40 points or 0.37%.
“Bulls regained control of the Pakistan Stock Exchange on Thursday. Indices zig-zagged in both directions until finally closing in green while volumes grew form last close,” Capital Stake said in its market report.
Sectors adding gains to the benchmark KSE 100 included, technology and communication(79.68pts), oil and gas exploration(79.16 pts) and refinery (27.76 pts).
Companies that drove the index north included SYS, POL, and PPL.
The oil and gas exploration sector surged by 1.31% in its cumulative market capitalisation, according to the brokerage house.
On Wednesday, the KSE-100 had remained on the backfoot as investors, concerned over inflation outlook and the appointment of the caretaker cabinet, resorted to offloading their holdings.
On the economic front, the downward trajectory of the Pakistan rupee against the US dollar came to a halt after four consecutive losses, as the currency remained largely stable on Thursday. At close, the rupee settled at 294.92, an increase of Re0.01, as per the State Bank of Pakistan.
Volume on the all-share index increased to 226.9 million from 194.5 million on Wednesday.
The value of shares rose to Rs10 billion from Rs7.6 billion in the previous session.
Dewan Motors remained the volume leader with 25.2 million shares, followed by JS Bank Ltd with 14.3 million shares and Pak Refinery with 12.5 million shares.
Shares of 325 companies were traded on Thursday, of which 155 registered an increase, 147 recorded a fall, and 23 remained unchanged.
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