Bulls again showed a strong performance at the Pakistan Stock Exchange (PSX) on Thursday with the share prices surging by over 3,600 points in the early trading and were able to sustain the trend till close of business, reported 24NewsHD TV channel.
At 10:10 am, the PSX’s benchmark KSE-100 index was hovering at 167,892.19, up by 3,060.77 points or 1.86%. The bourse was able to sustain the buying onslaught and at the end of the day the index recorded a handsome gain of 3,683.02 points or 2.16 percent to 168,514.44 points.
Buying interest was witnessed in almost all key sectors including automobile assemblers, cement, commercial banks, oil and gas exploration companies, OMCs, power generation and refinery. Index-heavy stocks, including ARL, HUBCO, MARI, OGDC, PPL, FFC, MCB, MEBL and UBL, traded in the green.
In a key development, Pakistan and the International Monetary Fund (IMF) have concluded their talks but will continue discussions on the federal budget for fiscal year 2027 in the coming days, following the conclusion of a staff-level visit.
On Wednesday, the PSX had extended its upward momentum as improving investor confidence encouraged aggressive buying across major sectors and lifted the benchmark index firmly into positive territory. The benchmark KSE-100 Index gained 1,934.74 points or 1.19% to settle at 164,831.42 points.
Reporter Kavish Memon