Karachi: The Pakistan Stock Exchange (PSX) continued its bullish momentum on Thursday as investors shrugged off concerns over global oil prices and regional geopolitical tensions, driving strong buying across banking, energy, fertiliser, cement and oil & gas stocks.
The benchmark KSE-100 Index gained 1,761.66 points (0.98%) to close at 181,776.60, after touching an intraday high of 182,007.04. Although some profit-taking emerged later in the session, it was not enough to halt the market's upward trend.
Market analysts attributed the rally to renewed institutional buying, improving investor confidence and strong interest in blue-chip companies. Commercial banks, oil & gas, cement, fertiliser and power sector stocks were among the biggest contributors to the index's gains.
Trading activity also strengthened, with 793.3 million shares changing hands and the total traded value reaching Rs40.3 billion. Out of 495 listed companies, 283 advanced, 180 declined, while 32 remained unchanged.
Analysts believe that if institutional buying continues and macroeconomic conditions remain supportive, the PSX could extend its rally in the coming sessions, although some profit-taking at higher levels remains likely.
