Pakistan Stock Exchange (PSX) continued bullish trend on Thursday as its benchmark KSE-100 Index climbed 844 points during the wee hours of trading, reflecting investor confidence in the local bourse, reported 24NewsHD TV Channel.
At the end of the session, Pakistan Stock Exchange (PSX) KSE-100 index closed at 172894, up 1189 points. During intra-day trading, KSE-100 Index jumped 1347 points and was trading at 173052. At one point, the index saw a decline of 163 points. KSE 100 index closed at 171,704.
Trading volume remained robust, with 238.8 million shares exchanged, while the total value of trades reached approximately Rs21.87 billion.
Market analysts said that the positive momentum is to a combination of factors, including easing tension between the US and Iran. Blue-chip stocks across banking, fertiliser, and oil & gas sectors led the gains.
Earlier on Wednesday, with growing hopes for a lasting peace agreement between the United States and Iran, the PSX staged a robust rally, during which it notched up gains of nearly 7,000 points, powered by deep investor interest in high-yielding stocks across the board.
Reporter: Kawish Memon