The bullish trend continued at the Pakistan Stock Exchange (PSX) on Wednesday, as the benchmark KSE-100 Index gained significant ground, climbing by more than 900 points during intra-day trading.
By 2 pm, the index was recorded at 158,871.96 points, showing an impressive rise of 926.94 points or 0.59%. Earlier in the session, it touched an intra-day high of 159,046.60.
The rally was supported by strong buying in major sectors, including commercial banks, cement, fertiliser, oil and gas exploration companies, oil marketing companies (OMCs), power generation, and refinery. Index-heavy stocks such as NRL, HUBCO, MARI, OGDC, POL, PPL, PSO, SNGPL, SSGC, HBL, MCB, MEBL, NBP, and UBL all traded in the positive zone.
Market sentiment was further strengthened by reports that the government and a consortium of 18 banks are scheduled to sign a much-awaited Rs1.225 trillion financing facility agreement on Wednesday. The deal is aimed at addressing the circular debt crisis plaguing the power sector.
This positive momentum followed Tuesday’s session, where the PSX closed on a higher note despite volatility caused by rollover pressure. On that day, the KSE-100 Index rose by 390.36 points, or 0.25%, to settle at 157,945.03.
Meanwhile, global markets painted a contrasting picture. Asian equities slipped on Wednesday, tracking overnight losses on Wall Street. Remarks from US Federal Reserve Chair Jerome Powell, which gave little clarity on future interest rate decisions, combined with weak economic data, weighed on investor confidence.
MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.4%, while the S&P 500 in the US shed 0.6% — its largest one-day fall in three weeks. Japan’s Nikkei also lost 0.5% as new manufacturing orders declined at the fastest pace in six months.
Key Phrase: KSE-100 index today
Meta Title: KSE-100 Index Soars Over 900 Points as Bulls Drive PSX Rally
Meta Description: KSE-100 Index surged by over 900 points to reach 158,871.96, with banks, cement, fertiliser, and oil sectors leading the gains at PSX.
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Bulls Dominate PSX as KSE-100 Surges Over 900 Points on Buying Momentum
