Stocks stage partial recovery on select buying

Dawn reported that the Pakistan Stock Exchange closed higher on Thursday, with the KSE-100 index climbing 1,021.40 points, or 0.67 per cent, to finish at 169,043.20. Trading ranged between 168,223 and 169,577, and Topline Securities Ltd said that wide band signalled heightened swings even with the upbeat finish. The gain came after a sharp fall in the previous session and was driven by selective purchases in heavyweight index stocks.

Ali Najib of Arif Habib Ltd (AHL) said sentiment improved after remarks by US President Donald Trump suggesting the conflict with Iran could be nearing its end, with easing oil prices adding support. Reports of extra Saudi crude cargoes being rerouted through Oman eased concerns over supply disruption. Even so, investors stayed cautious given geopolitical developments, global oil prices and the upcoming IMF review.

National Bank informed the PSX that the Federal Constitutional Court dismissed its appeal in a judgment issued on Wednesday (Sept 16) concerning pensioners' entitlement to pension increases announced by the government. On the trading side, Pakistan Petroleum, United Bank and Mari Energies were among the top positive contributors, while Media Times Ltd topped trading volume at 42m shares. Overall volume rose 8.48pc to 386.3 million shares and traded value climbed 3.10pc to Rs20.09bn.