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PSX extends rally as KSE-100 jumps nearly 1,500 points

ByJustpaste.in

The Pakistan Stock Exchange (PSX) maintained its strong upward momentum on Thursday, with investors continuing aggressive buying across major sectors, pushing the benchmark KSE-100 Index higher by nearly 1,500 points during intraday trading.

By 2:40pm, the KSE-100 Index was trading at 181,488.61 points, reflecting an increase of 1,473.68 points, or 0.82%, compared with the previous session’s close. The latest gain extended the market’s recovery after Wednesday’s sharp rally, indicating renewed investor confidence amid improving domestic and international market conditions.

Market participants said buying activity remained broad-based, with investors accumulating shares in several heavyweight sectors. Strong demand was witnessed in automobile assemblers, cement manufacturers, chemical companies, commercial banks, fertiliser producers, oil and gas exploration firms, oil marketing companies (OMCs), and power generation stocks.

Among the index-heavy companies contributing to the rally were Attock Refinery Limited (ARL), Hub Power Company (HUBCO), Mari Energies (MARI), Oil and Gas Development Company (OGDC), Pakistan Petroleum Limited (PPL), Pakistan Oilfields Limited (POL), MCB Bank, Meezan Bank (MEBL), and National Bank of Pakistan (NBP), all of which traded in positive territory during the session.

The bullish sentiment follows Wednesday’s impressive recovery, when the benchmark KSE-100 Index climbed 2,931.71 points, or 1.66%, to settle at 180,014.93 points. The surge enabled the index to reclaim the important 180,000-point milestone for the first time in 16 trading sessions, signaling renewed optimism among investors.

Analysts attributed the recent gains to easing geopolitical concerns in the Middle East, which have reduced fears of supply disruptions in global energy markets. The decline in international crude oil prices has also helped improve investor sentiment by easing inflationary concerns and strengthening expectations for economic stability.

The recovery has encouraged investors to return to the equity market, particularly in sectors expected to benefit from lower energy costs and improving macroeconomic indicators. Banking and energy stocks remained among the biggest contributors to the benchmark index’s advance.

Meanwhile, global financial markets presented a mixed picture on Thursday. Asian stock markets paused after a technology-led rally in the previous session, while crude oil prices traded within a narrow range as investors monitored developments surrounding potential diplomatic progress between Iran and the United States.

MSCI’s broad index of Asia-Pacific shares excluding Japan declined by 0.69%, weighed down primarily by losses in technology stocks. South Korea’s benchmark index fell 3.64%, while Japan’s Nikkei 225 dropped 1.57%.

Major technology companies also came under pressure. In South Korea, Samsung Electronics slipped 2.44%, while semiconductor manufacturer SK Hynix fell 6.95%. In Japan, memory chip producer Kioxia plunged 9.61%, and Tokyo Electron declined 4.61%.

The cautious mood in Asia followed a weaker overnight performance on Wall Street, where the Nasdaq Composite ended its recent winning streak. Investors reacted to quarterly earnings from major technology companies, including SpaceX and Advanced Micro Devices (AMD).

Although companies continued to highlight strong demand for artificial intelligence-related investments, market participants remained cautious about the sustainability of heavy spending on AI infrastructure. Investors also questioned whether profitable businesses such as satellite internet services could continue financing expensive data centre expansion over the long term.

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