The Pakistan Stock Exchange (PSX) observed another volatile session as the benchmark KSE-100 Index settled with a loss of over 200 points on Wednesday.
Stocks opened on a positive note, hitting an intra-day high of 171,587.32 in the opening hours of the trading. However, selling pressure was seen in the final hours, dragging the index to an intra-day low of 170,641.13.
At close, the benchmark KSE-100 Index settled at 170,830.22, a decrease of 243.51 points or 0.14%.
The stock market will remain closed on Thursday on account of the occasions of Quaid-e-Azam Day and Christmas.
A consortium led by AHCL on Tuesday emerged as the winning bidder for the acquisition of a 75% stake in Pakistan International Airlines (PIA), submitting a top bid of Rs135 billion, which was well above the government’s initial minimum price of Rs100 billion and the base price of Rs115 billion, at which the auction began.
On Tuesday, PSX concluded the trading session with most benchmark indices closing lower, as selling pressure persisted across multiple sectors. The benchmark KSE-100 Index closed at 171,073.73 points, down 130.44 points or 0.08%.
Internationally, Asian shares advanced on Wednesday, capping a year of brisk artificial intelligence-driven gains, while commodities such as gold and silver extended their bullish run to new all-time highs as 2025 draws to a close.
Overnight on Wall Street, the S&P 500 notched a closing record as the elusive Santa Claus rally finally set in. US data showing the economy expanded at a much faster-than-expected clip in the third quarter boosted risk sentiment but weighed on bonds.
Stocks in the region were slightly higher, with MSCI’s broadest index of Asia-Pacific shares outside Japan up 0.3%. The index is up 26% for the year, its best performance since 2017.
EURO STOXX 50 futures, Nasdaq futures and S&P 500 futures were little changed amid thin liquidity.
Japan’s Nikkei rose 0.4% and was up 26% this year. South Korea outperformed the rest of Asia for the year with a meteoric surge of 72%.
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