PSX: KSE-100 up nearly 1,300 points
Buying interest was observed at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index gaining nearly 1,300 points during the trading session on Thursday. At 12pm, the benchmark index was hovering at 169,303.71, up by 1,281.91 points or 0.76%. Buying was observed in key sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration companies, OMCs, power…
The Pakistan Stock Exchange (PSX) experienced a significant surge in trading activity on Thursday, with the benchmark KSE-100 Index climbing nearly 1,300 points. By noon, the index was trading at 169,303.71, marking a gain of 1,281.91 points or 0.76%. This upward momentum was particularly notable in key sectors, such as automobile assemblers, cement, commercial banks, oil and gas exploration firms, oil marketing companies (OMCs), power generation, and refineries.
Stocks like LUCK, MCB, MEBL, NBP, UBL, MARI, OGDC, PPL, POL, and ARL all posted gains during the session.
In contrast, the previous trading day saw the PSX under intense selling pressure. This was largely due to factors such as high international oil prices, ongoing regional geopolitical tensions, and concerns over macroeconomic stability. These issues prompted many investors to engage in profit-taking across major sectors. The KSE-100 Index plummeted by 1,370.52 points, or 0.81%, closing at 168,021.80 points.
On the international front, shares in Asia saw a modest rise as investors anticipated the Federal Reserve's first interest rate hike in over three years. This move helped alleviate concerns related to rising long-term yields. However, the positive sentiment was tempered by the fact that oil prices were sliding. The focus now shifts to the Bank of England, which is expected to maintain interest rates, while the Bank of Japan is expected to raise rates on Friday.
Globally, markets reacted positively to the Fed's decision, with indices across the board posting gains.
Written by urgent.news from Business Recorder's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
