The Pakistan Stock Exchange (PSX) extended its bullish momentum on Thursday, with the benchmark KSE-100 Index soaring more than 3,100 points during intraday trading amid strong buying across key sectors.
According to data available on the PSX, the market opened on a positive note, with the KSE-100 Index gaining more than 1,500 points within the first few minutes of trading. Buying pressure intensified throughout the session, pushing the benchmark to an intraday high of 178,431.73 points by midday, reflecting a gain of over 3,100 points.
At 1:36 pm, the KSE-100 Index was trading at 177,798.69 points, up 2,512.91 points, or 1.43%, from the previous session’s close.
The rally was driven by broad-based buying in major sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration companies, oil marketing firms, power generation companies, and refineries.
The latest gains follow Wednesday’s strong recovery, when the benchmark index rebounded by 1,766.97 points (1.02%) to close at 175,285.78, as investors returned to the market after Tuesday’s sell-off despite ongoing geopolitical tensions in the Middle East.
Meanwhile, global markets presented a mixed picture. Most Asian equities traded lower as a sell-off in semiconductor stocks offset stronger-than-expected earnings from Taiwan Semiconductor Manufacturing Company (TSMC). South Korea’s KOSPI dropped sharply, while Japan’s Nikkei also declined. In contrast, Hong Kong’s Hang Seng Index posted gains during the session.
Oil prices also eased after the United States completed its latest strikes on Iran, although Brent crude remained elevated after recording significant weekly gains amid heightened geopolitical tensions across the Middle East.
Market participants will continue to monitor regional developments and global economic indicators, which are expected to influence investor sentiment in the coming trading sessions.
