PSX rebounds on live PIA bidding report

After a session marked by institutional profit-taking a day earlier, the Pakistan Stock Exchange (PSX) posted a measured recovery on Thursday as renewed buying helped the KSE-100 index regain some lost ground.

The market briefly rose around 700 points during intraday trading before settling modestly higher around 140 points, reflecting subdued optimism and selective re-entry by investors.

Sentiment was boosted when Prime Minister Shehbaz Sharif announced that the bid for Pakistan International Airlines (PIA) would go live on December 23, 2025, a development that fueled interest in PIA Holding Company, which was actively traded throughout the session.

At the close of trade, the KSE-100 was up a modest 138.20 points, or 0.08%, at 166,283.55.

Arif Habib Limited (AHL) reported a largely flat session after two consecutive days of decline, with market breadth evenly balanced as 50 stocks advanced while 49 declined. Support for the index came mainly from Service Industries (+10%), Pioneer Cement (+3.84%) and PTCL (+4.95%). On the other hand, Fauji Fertilizer Company (-0.86%), Pakistan Services (-6.7%) and Mari Energies (-0.62%) were the biggest drags, it said.

In industry developments, the telecom regulator has granted conditional approval for the acquisition of Telenor Pakistan by PTCL. Meanwhile, Bank Alfalah (+0.18%) accepted a no-bid offer from Ghazanfar Bank to acquire its Afghanistan operations, pending satisfactory due diligence. With key support near 164,000, the KSE-100 remains 0.24% lower entering the final session of the week, AHL said.

“It was a market recovery as investors came back,” Topline Securities noted in its review. After a heavy institutional sell-off in Wednesday’s session, the stock market made a welcome recovery on Thursday. The benchmark touched an intraday high of 691 points before closing at 166,284, up 138 points, reflecting renewed buying interest and improved intraday sentiment.

On the news front, he said, confidence was boosted after the Prime Minister announced that the bidding process for the privatization of PIA would be televised live on December 23. This development generated considerable investor interest in PIA Holding Company, which saw healthy volumes.

Meanwhile, Lalpir Power emerged as one of the most actively traded stocks with over 108 million shares changing hands. The increase is in line with the company’s ongoing share repurchase program that began on November 28.

Market sentiment remained broadly positive, supported by strong performances in key heavyweights such as Service Industries, Pioneer Cement, PTCL, Engro Holdings and Pakistan Petroleum, which added 298 points to the index, Topline said.

Mubashir Anis Naviwala of JS Global wrote that the PSX closed marginally higher as the KSE-100 settled at 166,284, up 138 points. The market saw choppy trading earlier in the day but later stabilized with selective buying near support levels. Volumes remained subdued at 608 million shares, reflecting the cautious sentiment. A close above 166k suggests underlying support, although momentum remains mild, he said.

Total trading volume was recorded at 608 million shares compared to the previous session’s tally of 593 million. The value of shares traded during the day was Rs 31.2 billion.

Shares of a total of 477 companies were traded. Of these, 203 closed in the green, 223 finished lower, while 51 remained unchanged.

Lalpir Power led the volumes with 108.9 million shares, shedding Rs 1.57 to close at Rs 24.33. PIA Holding Company followed with 37.8 million shares traded, gaining Rs 3.62 to settle at Rs 41.61, while PTCL recorded 34.5 million shares traded, gaining Rs 2.07 to close at Rs 43.92. Foreign investors sold shares worth Rs 1.8 billion, the National Clearing Corporation said.