Buying momentum strengthened at the Pakistan Stock Exchange (PSX) on Thursday, with the benchmark KSE-100 Index extending its rally and crossing the 168,000 level during intra-day trading.
By around 1:20pm, the index was up by 3,203.68 points, or 1.94 percent, to stand at 168,035.10. Buying interest remained broad-based, with gains seen across automobile assemblers, cement, commercial banks, oil and gas exploration firms, oil marketing companies, power generation and refinery stocks.
Heavyweights including ARL, HUBCO, MARI, OGDC, PPL, FFC, MCB, MEBL and UBL stayed in positive territory for much of the session, helping support the upward move.
Later in the day, the rally gained further strength. By around 2:23pm, the index had climbed to 168,530.06, showing an increase of 3,698.64 points. Trading activity also picked up, with volumes crossing 198 million shares. By 2:24pm, the KSE-100 was still holding at 168,444.14, up 3,612.72 points, or 2.19 percent.
The index moved within a day range of 166,638.56 to 168,530.06, comfortably staying above the previous close of 164,831.42. Despite the strong recovery in recent sessions, the market remains down 3.22 percent on a year-to-date basis. However, it is still up 40.45 percent over the past year, reflecting a broader long-term gain.
Market watchers linked the continued buying to improving sentiment, as investors who had recently turned cautious appeared to be re-entering positions. Just two days earlier, panic selling had dominated trading, but sentiment has shifted as fears of immediate geopolitical escalation eased and expectations of a diplomatic path returned.
In a key development, Pakistan and the International Monetary Fund are set to continue discussions on the federal budget for fiscal year 2027 after the conclusion of a staff-level visit. The engagement with the International Monetary Fund remains closely watched by investors for policy direction and fiscal clarity.
On the previous trading day, the KSE-100 had already posted strong gains, rising 1,934.74 points to close at 164,831.42, signalling a steady return of confidence.
Globally, equity markets also moved higher, supported by easing concerns over key shipping routes and upbeat corporate earnings from major technology firms. The positive international backdrop added further support to local sentiment at the Pakistan Stock Exchange, where buyers maintained control through most of the session.
The gains further strengthened, and around 2:44 PM, the stock market was up by 4,037.76 points, reaching 168,869.18, with volumes at 220,936,071.
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