The market rally coincided with US Vice-President JD Vance expressing his desire to hold direct talks with Iran. Meanwhile, investors also monitored developments across international financial markets.
KSE-100 Index Gains More Than 1,100 Points
During the opening session, the benchmark KSE-100 Index climbed to 180,269.83 points. This represented an increase of 1,186.03 points, or 0.66%.
Moreover, buying interest extended across several major sectors, supporting the overall market performance. Automobile assemblers, cement companies, commercial banks and oil and gas exploration firms attracted investor attention.
Oil marketing companies (OMCs) and power generation companies also recorded positive trading activity. Consequently, several heavyweight stocks contributed to the index’s upward movement.
Major Stocks Trade in Positive Territory
Several influential companies traded in the green during Thursday’s early session. These included HUBCO, MARI, OGDC, POL, PSO, SSGC and SNGPL.
Additionally, banking stocks HBL, MEBL and UBL also recorded gains. Their positive performance helped strengthen the benchmark index during the opening hours.
However, the latest gains followed a slightly weaker closing session on Wednesday. Profit-taking towards the end of trading had reduced earlier advances.
The KSE-100 Index shed 251.44 points, representing a decline of 0.14%. Consequently, the benchmark closed Wednesday’s session at 179,083.80 points.
Global Markets React to Nvidia Developments
Meanwhile, international markets experienced mixed movements during Thursday’s Asian trading session. Global stocks fluctuated as investors assessed developments surrounding major technology companies.
Nvidia shares came under significant pressure during after-hours trading. The decline followed reports that the company’s board might consider removing longtime Chief Executive Officer Jensen Huang.
A source familiar with the matter said the board was meeting late Wednesday to discuss the possibility. The reports emerged amid allegations involving Huang and a suspected Chinese spy.
The New York Times also reported that Huang had an affair with a company executive who reported directly to him.
Following the reports, Nvidia shares fell more than 8% after the closing bell. The decline also weighed on S&P 500 E-mini futures, which slipped 0.4%.
Asian and US Stock Markets Show Mixed Performance
Despite early volatility, several major Asian markets recorded gains during Thursday’s trading session.
South Korea’s Kospi advanced 0.2%, while Taiwanese shares gained 0.5%. Japan’s Nikkei 225 also climbed 0.5%.
However, MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.1%. Weakness in Hong Kong shares contributed to the decline.
Meanwhile, Wall Street ended Wednesday on a positive note. The S&P 500 gained 1.3%, recovering almost all its losses since the previous week’s US midterm elections.
The contrasting movements across international markets highlighted the mixed sentiment influencing global investors. Nevertheless, strong early buying at the Pakistan Stock Exchange pushed the KSE-100 Index beyond the 180,000-point milestone.
For the latest updates, visit and follow The Truth International website (www.thetruthinternational.com) and subscribe to the YouTube Channel.
