Buying continues at PSX as KSE-100 jumps over 4,000 points

Bulls extended their march at the Pakistan Stock Exchange (PSX) on Wednesday, with continued buying momentum pushing the benchmark KSE-100 Index up over 4,000 points at closing.

The market opened on a positive note, with the day's highest level of 154,684.45 as of noon. The rally followed the previous session, where the index had crossed the 150,000 level, closing at 150,016.16 points after gaining 837.50 points.

Widespread buying activity was observed across multiple sectors, including automobile assemblers, cement, commercial banks, fertiliser, oil and gas exploration, oil marketing companies, power generation, and refineries. Major index contributors such as DGKC, HBL, MCB, MEBL, MARI, OGDC, POL, PPL, PSO, SNGPL, and SSGC traded in positive territory.

At the closing, the market settled at 154,292.25, up by 4,276.09 points, or 2.58% from the previous close.

The upward movement aligned with trends in global markets, where equities advanced after a pause in the recent rise in oil prices. Investors are also tracking central bank decisions, particularly the US Federal Reserve’s policy announcement.

Asian markets recorded gains, with MSCI’s Asia-Pacific index excluding Japan rising 1.2%. Japan’s Nikkei increased 2%, while China’s blue-chip index edged up 0.1% and Hong Kong’s Hang Seng added 0.3%.

Oil prices declined during the session, with Brent crude falling 1% to $102.28 per barrel and US West Texas Intermediate dropping 1.6%. The easing in oil prices followed recent volatility linked to geopolitical tensions in the Middle East.

Developments in the region continued to influence market sentiment, with ongoing conflict affecting global energy markets.