ISLAMABAD: The Pakistan Stock Exchange (PSX) extended its bullish momentum for a second consecutive session on Thursday, as the benchmark KSE-100 Index gained more than 3,400 points amid improving investor confidence.
The index climbed 3,450.53 points, or 2.01%, to reach 175,464.01 points by midday, compared with the previous closing level of 172,013.48 points. During the session, it touched an intraday high of 176,604.51 points.
Trading activity remained strong, with approximately 268.12 million shares changing hands, representing a traded value of Rs22.68 billion.
The latest gains followed Wednesday’s impressive performance, when the benchmark index surged 3,994.62 points, or 2.38%, to close at 172,013.48 points. Consequently, the market accumulated gains of approximately 7,400 points over two sessions.
Improving geopolitical sentiment following the US midterm elections encouraged investors to increase their exposure to equities. Expectations of reduced tensions involving Iran also supported market confidence.
Furthermore, declining international oil prices strengthened sentiment, particularly in sectors sensitive to energy costs.
Banking, cement and power-sector stocks attracted considerable buying interest, contributing to the market’s upward movement.
Investors continued monitoring geopolitical developments, international oil prices and currency movements for further market direction.
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