Stocks stage mild recovery on selective buying

The KSE-100 ended Wednesday at 165,930.99, up 779.35 points or 0.47 per cent, after two losing sessions, Dawn reported. During the day, it ranged from 164,732 to 166,242 as buyers selectively returned at lower levels, although trading had earlier taken the index below 165,000. Topline Securities attributed the recovery to renewed buying after recent selling.

United Bank, Hub Power, Habib Bank, Oil and Gas Development Company and Mari Energies together contributed about 493 points to the advance. Auto shares gained amid interest in the draft Auto Policy 2026-31, while refineries faced earnings pressure after the high-speed diesel crack spread was lowered to $38 per barrel from $41.89 for three months. Volume fell 14.98 per cent to 379.9 million shares, but turnover increased 9.54 per cent to Rs21.2bn; Pakistan Refinery led trading by volume with 49.4m shares.