The Pakistan Stock Exchange (PSX) witnessed a strong opening on Thursday, with the benchmark KSE-100 Index climbing over 700 points as investors continued to show confidence in local equities.
Read More: Bullish Sentiment Drives PSX Rally Beyond 151,000 Points
At 10am, the index was trading at 152,974.07, reflecting a gain of 772.20 points or 0.51%. It later reached an intra-day high of 153,117.26.
Buying interest was concentrated in cement, oil and gas exploration, refineries, banks, and power generation stocks. Key performers included HBL, MCB, MEBL, NBP, ARL, MARI, POL, PPL, PSO, and SGNPL.
This positive momentum builds on Wednesday’s strong performance when the index surged by 1,226.39 points to close at 152,201.88.
Market experts say improved macroeconomic outlook, falling inflation expectations, and investor confidence in policy continuity are driving the surge.
Global developments also played a role in boosting sentiment. Asian stocks edged higher after dovish remarks from US Federal Reserve officials raised hopes of near-term rate cuts.
Japan’s Nikkei gained 1.2%, while Australia’s benchmark index rose 0.8%. However, China’s markets fell, with the Shanghai Composite losing 1.6% amid regulatory concerns.
Despite lingering uncertainties in global bond markets, including elevated yields and fiscal challenges in the US, Japan, and the UK, Pakistani investors appeared focused on domestic opportunities.
Analysts suggest that sustained interest in equities could push the index further upward in the coming sessions.