The Pakistan Stock Exchange (PSX) continued its upward run on Wednesday, with the benchmark KSE-100 Index gaining more than 900 points in a strong trading session.
At 1:38pm, the index was trading at 172,336.58 points, up 934.50 points, or 0.55 percent, from Tuesday’s close of 171,402.08.
The market got off to a strong start, with the KSE-100 gaining almost 1,000 points within the opening minutes. By 9:45am, it had reached 172,373.28 points, showing a gain of 971.20 points, or 0.57 percent.
Buying was seen across several major sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration companies, oil marketing companies and refineries.
The momentum continued through the morning, with the index reaching 172,469.68 points by 11:55am, up 1,067.60 points, or 0.62 percent. Heavyweight stocks such as HBL, MCB, MEBL, NBP, MARI, OGDC, POL, PPL and ARL were among those trading higher.
The KSE-100 later touched an intraday high of 172,762.41 points before giving up some of its gains. Its intraday low stood at 171,843.50 points, while around 100.2 million shares had changed hands.
The latest figures show the index is up 9.11 percent over the past year, although it remains 0.99 percent lower on a year-to-date basis. Its 52-week range stands between 144,119.44 and 191,032.73 points.
Wednesday’s rally follows two consecutive sessions of gains. The index rose 248.92 points on Tuesday after a volatile session, while it added 268.58 points on Monday.
Monday’s gains came as falling international oil prices and signs of possible US-Iran de-escalation eased some concerns over inflation and pressure on Pakistan’s external account.
With the KSE-100 holding above 172,300 points, investors are keeping a close eye on whether the buying momentum can carry the index higher in the remaining trading hours.
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