Business Recorder
Buying momentum continued at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index gaining over 3,000 points during the opening minutes of trading on Thursday. At 10:10am, the benchmark index was hovering at 167,892.19, up by 3,060.77 points or 1.86%. Buying interest was observed in key sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration companies, OMCs, power generation and refinery. Index-heavy stocks, including ARL, HUBCO, MARI, OGDC, PPL, FFC, MCB, MEBL and UBL, traded in the green. In a key development, Pakistan and the International Monetary Fund (IMF) will continue discussions on the federal budget for fiscal year 2027 in the coming days, following the conclusion of a staff-level visit. On Wednesday, PSX extended its upward momentum as improving investor confidence encouraged aggressive buying across major sectors and lifted the benchmark index firmly into positive territory. The benchmark KSE-100 Index gained 1,934.74 points or 1.19% to settle at 164,831.42 points. Globally, Asian stocks surged on Thursday as some vessels resumed passage through the Strait of Hormuz, while forecast-beating results at Nvidia and a suspended workers’ strike at Samsung Electronics lifted shares of chipmakers. MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 2.6%, snapping a four-day streak of losses. Korea’s KOSPI leapt more than 7%, Taiwanese shares rose 3.5% and Chinese blue-chips gained 1.1%. Brent crude futures edged up 0.6% to $105.68 a barrel in Asian trade, retracing declines after three supertankers passed through the strait on Wednesday and Iran consolidated its control of the waterway. Supply concerns persist, though, following a U.S. inventory drawdown. On Wall Street on Wednesday, the S&P 500 rose 1.1%, while the Nasdaq Composite rallied 1.5% after three days of declines, as President Donald Trump said the United States was ready to proceed with further attacks on Iran if Tehran did not agree to a peace deal, but suggested Washington could wait a few days to “get the right answers.” This is an intraday update
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