PSX gains 465 points as investors return

Trading on the Pakistan Stock Exchange ended higher on Wednesday, as the KSE-100 index added 464.53 points, or 0.26%, and finished at 180,311.22, according to The Express Tribune. Buyers came back into equities after the index had dipped below the 180,000 mark in the previous session. Demand was strongest in oil and gas exploration shares, which gave the index its firmest support.

Around midday the index peaked at 180,901.27, and its lowest point came in the afternoon at 179,920.10. It stayed in positive territory throughout the session. Commentary from the broker Arif Habib Limited pointed to selective buying, with 57 shares rising and 43 falling. Crude prices firmed after two vessels were attacked, while signs of a possible US-Iran arrangement eased some geopolitical concern.

Turnover shrank to 744.2 million shares from 860.3 million a day earlier, with traded value at Rs32.2 billion. Of 491 companies traded in the ready market, 249 closed higher, 211 fell and 31 were unchanged. Cnergyico led by volume with 67.8 million shares, while overseas buyers were net sellers, offloading Rs32.3 million in stock, per the National Clearing Company.