The Pakistan Stock Exchange (PSX) continued its upward momentum for a second consecutive session on Thursday, as the benchmark KSE-100 Index gained more than 3,400 points by midday amid sustained buying and improving investor sentiment.
KSE-100 Crosses 175,000
The benchmark KSE-100 Index reached 175,464.01 points by midday, recording an increase of 3,450.53 points, or 2.01%, compared with the previous close of 172,013.48.
During the session, the index touched an intraday high of 176,604.51 points and a low of 174,291.25 points.
Trading activity remained strong, with 268.12 million shares changing hands and the total traded value reaching Rs22.68 billion by midday.
The latest gains pushed the benchmark firmly above the 175,000-point mark, although it retreated slightly from its intraday peak.
Rally Extends for Second Day
Thursday’s performance followed another strong session on Wednesday, when the KSE-100 Index gained nearly 4,000 points to close at 172,013.48.
With the latest increase, the benchmark has advanced by approximately 7,400 points over the past two trading sessions, reflecting renewed buying interest across the market.
The continued rally suggests that investors are showing greater confidence after recent uncertainty in domestic and international markets.
Global Developments Support Sentiment
Market sentiment improved amid easing geopolitical concerns following the US midterm elections. The election results have raised expectations of reduced near-term risks of further escalation involving Iran.
International oil prices also remained under pressure, providing additional support to investor sentiment, particularly in sectors sensitive to energy costs and imports.
Lower oil prices can help ease pressure on Pakistan’s import bill and reduce some cost-related concerns for businesses, although the broader impact depends on how international energy markets develop.
PSX Surges Over 1,300 Points as Investors Continue Buying
Banking and Cement Stocks Active
Buying activity was visible across several sectors during early trading, including banking, cement and power-related stocks.
These counters contributed to overall market volume as investors continued to take positions following Wednesday’s gains.
The market’s ability to remain above the 175,000-point level will be an important indicator of whether the current upward momentum can continue.
Investors Await Further Signals
Investors are expected to monitor international oil prices, geopolitical developments and signals from global financial markets for further direction.
The Pakistani rupee also recorded a marginal gain against the US dollar in interbank trading, adding to the relatively positive market sentiment.
Thursday’s midday performance indicates that buying interest has remained strong after the previous session’s rally. However, the final market close and developments in international markets will help determine whether the bullish trend can be sustained.
