The Pakistan Stock Exchange (PSX) kicked off Wednesday on a strong note, with the benchmark KSE-100 Index surging over 600 points in the opening minutes, extending its recent record-setting rally.
At 9:40am, the KSE-100 stood at 147,630.54 — up by 625.22 points or 0.43%. Buying activity was particularly strong in sectors such as automobile assemblers, commercial banks, fertilisers, oil and gas exploration companies, oil marketing companies (OMCs), and refineries.
Index-heavy stocks including ARL, OGDC, POL, SNGPL, HBL, MCB, MEBL, and NBP all traded in the green, reflecting widespread investor optimism.
Corporate earnings, investment outlook boost sentiment
Analysts point to robust corporate earnings and expectations of US investments in key sectors — especially energy — as the main drivers behind the bullish sentiment.
The market’s upbeat tone follows Tuesday’s volatile session, in which the PSX overcame heavy profit-taking to close at another all-time high of 147,005.32, up by 75.48 points or 0.05%.
Global markets add to positive momentum
Asian equities also posted gains on Wednesday, while the US dollar remained subdued. Japan’s Nikkei broke past the 43,000 mark for the first time, buoyed by improved business confidence after a trade deal with the US.
On Wall Street, stocks hit fresh highs on expectations that the Federal Reserve will cut interest rates next month. Meanwhile, cryptocurrency ether reached its highest level in almost four years.
