PSX stays firm as KSE-100 rises more than 1,480 points in early trade

KARACHI: The Pakistan Stock Exchange (PSX) remained in positive territory on Thursday, with the benchmark KSE-100 Index gaining more than 1,480 points during the opening hours of trade, extending the momentum seen in the previous session.

The KSE-100 Index was at 173,187.93 at the latest update, showing an increase of 1,483.18 points, or 0.86%, from Wednesday’s close of 171,704.75. During the session, the index touched an intraday high of 173,187.93 and a low of 171,541.04.

Trading activity also remained strong, with 238.8 million shares changing hands and the total value of trades standing at about Rs21.87 billion.

Market analysts linked the upbeat trend to a mix of factors, including easing tensions between the United States and Iran. Gains were led by blue-chip shares in the banking, fertiliser, and oil and gas sectors.

Strong rebound in previous session

The advance followed a sharp rally on Wednesday, when the PSX recorded gains of nearly 7,000 points amid rising optimism over the prospects of a lasting agreement between the United States and Iran.

The market opened on a strong note after news that the US president had indicated a temporary pause in operations to escort ships through the Strait of Hormuz following progress towards a broader understanding with Iran. That development improved sentiment and encouraged investors to return to equities.

In Wednesday’s session, the KSE-100 Index moved between an intraday high of 172,088.58 and a low of 167,354.44 before settling at 171,704.76, up 6,962.29 points, or 4.23%.

KTrade Securities equity trader Ahmed Sheraz said the KSE-100 delivered a powerful rebound, closing up 6,962 points (+4.23%), which marked a standout session with broad-based strength.

The latest rise indicates that investor confidence remained intact in Thursday’s early trade, with buying interest continuing across major sectors of the market.