KARACHI:
The Pakistan Stock Exchange (PSX) extended its bullish momentum on Thursday, tracking a global equities surge after a U.S. court blocked tariffs proposed by former President Donald Trump, with the benchmark KSE-100 Index closing just shy of the 119,000 mark.
The KSE-100 gained 638.50 points, or 0.54%, to settle at 118,971.40. Earlier in the session, it touched an intraday high of 119,639.47 as investor sentiment remained upbeat throughout the day.
According to a note from Ismail Iqbal Securities, the market reflected “cautious optimism” as investors began positioning ahead of further clarity on upcoming fiscal measures.
Broad-based buying was witnessed across key sectors, particularly in automobile assemblers, cement, commercial banks, oil and gas exploration companies, oil marketing companies (OMCs), and power generation. Heavyweights such as HUBCO, MARI, OGDC, PPL, SNGPL, SSGC, MCB, MEBL, and NBP ended in the green, contributing to the day’s upward trajectory.
The market had already seen a mild recovery earlier in the week. On Tuesday, the KSE-100 had added 112 points or 0.09%, closing at 118,333 amid budget-related speculation and expectations of a package for the real estate sector, which boosted cement stocks. The market remained closed on Wednesday due to the Yaum-e-Takbeer holiday.
