PSX gains over 1,600 points as buying momentum returns | The Express Tribune

KARACHI:

Buying momentum returned to the Pakistan Stock Exchange (PSX) on Wednesday, with the benchmark KSE-100 index gaining 1,666.85 points, or 0.94%, to reach 179,359.77 by 1:24pm.

The market maintained its upward trajectory after a positive start to the session. Earlier in the morning, the benchmark index had climbed 551.65 points, or 0.31%, to 178,244.57 by 9:34am.

During intra-day trading, the KSE-100 touched a high of 179,540.31 and a low of 177,931.32, while traded volume stood at 271.61 million shares.

Read: PSX loses steam amid cautious trading

The rally was driven by strong buying interest across key sectors, including automobile assemblers, cement, commercial banks, fertiliser, oil and gas exploration companies, oil marketing companies (OMCs), and power generation.

Investor sentiment remained positive as broad-based gains in heavyweight stocks helped the benchmark index extend its advance toward the 180,000-point level. The strong trading activity also reflected confidence in the market’s medium-term outlook despite ongoing macroeconomic challenges.