PSX: stocks surge, KSE-100 up nearly 400 points
Positive momentum was observed at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index gaining nearly 400 points during the opening minutes of trading on Wednesday. At 9:35am, the benchmark index was hovering at 164,830.55, up 363.35 points or 0.22%. Buying was observed in key sectors: automobile assemblers, cement, commercial banks, oil and gas exploration companies and power…
The Pakistan Stock Exchange (PSX) experienced a significant surge, with the KSE-100 Index gaining nearly 400 points during the opening minutes of trading on Wednesday. The index opened at 164,830.55, up 363.35 points or 0.22%. Key sectors such as automobile assemblers, cement, commercial banks, oil and gas exploration companies, and power generation witnessed buying activity.
Index-heavy stocks like HUBCO, MARI, POL, HBL, MCB, and MEBL traded in the green. Pakistan has also decided to tighten its anti-money laundering and countering the financing of terrorism (AML-CFT) regimes, introducing revised thresholds for currency transaction reporting, approving provisions of the Pakistan Maritime Zones Act, 2023, and incorporating the Pakistan Virtual Assets Regulatory Authority (PVARA) into the law's regulatory framework.
Despite the State Bank of Pakistan's recent 50 basis points policy rate hike, broad-based buying across key sectors lifted investor sentiment, leading the KSE-100 Index to close at 164,467.20 points, gaining 1428.73 points or 0.88%.
Brief written by urgent.news from Business Recorder's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
