KARACHI: Buying returned to the Pakistan Stock Exchange (PSX) after three consecutive negative sessions, as the KSE-100 Index gained over 1,700 points.

The index closed at 113,206.40, up by 1,719.04 points (1.54%), driven by strong performances from stocks like MARI, BAHL, LUCK, PSO, and HUBC, which collectively added 923 points. The second half of the trading day saw bullish momentum, pushing the index to an intra-day high of 113,400.57. The positive market sentiment followed the announcement of Bank Alfalah's 2024 profit of Rs39.9 billion, a 10% increase over the previous year. Investors are also awaiting the International Monetary Fund (IMF) review due at the end of February, which is expected to reinforce macroeconomic stability. Despite the rally, the PSX had experienced a sharp decline in the previous three sessions, losing nearly 3,400 points. Internationally, Asian markets were mixed amid thin trading, and US stocks showed mixed earnings reports.

The US dollar remained stable as the Federal Reserve indicated a pause in interest rate cuts. Meanwhile, the Pakistani rupee marginally depreciated by 0.04% against the US dollar, closing at 278.97. Trading volume on the all-share index increased to 483.94 million, but the value of shares declined to Rs26.10 billion.  Sui South Gas led in vol ume, followed by Waves Home App and Bank Makramah. Of the 441 companies traded, 272 saw gains, while 118 declined.