KSE-100 rallies to close at an increase of more than 5700 after consecutive selling sessions

The Pakistan Stock Exchange returns back to green on Wednesday after consecutive selling sessions as the KSE-100 Index closes at an increase of more than 5700 points.

The index reached the day's high late in the day at 3:30 PM when the market was trading at 178,974.16 points, up more than 5700 points from the previous close of 173,150.41. Buying was seen in key sectors including banking, with the Bank of Punjab stock increasing by 3.69% after the bank posted its highest ever dividend per share yesterday. The National Bank of Pakistan was also up by Rs17.75 or 7.21%.

The market closed at 178,853.09 points, an increase of 5702.68 points or 3.29% from the previous close of 173,150.41. This increase comes after consecutive days of selling pressure in the market as on Tuesday the Index closed at a loss of 1300 points or 0.75% from Monday's close of 174,453.93.

Asian markets did well on Wednesday with Japan's Nikkei 225 up by 1.02% after three consecutive selling sessions. Mainland China, Hong Kong, Singapore, Taiwan and South Korea saw their markets closed in celebration of the Lunar New Year.

The US indices including the Dow Jones Industrial Average, the S&P 500, and the Nasdaq Composite all closed on a slightly positive note on Tuesday despite worries of an AI boom.