PSX extends rally with over 1,900-point intraday gain

KARACHI: The Pakistan Stock Exchange (PSX) continued its upward move on Wednesday, with the benchmark KSE-100 index rising by more than 1,900 points in intraday trading as buying interest remained intact.

According to market figures cited in the report, the KSE-100 index was up 1,934.74 points, or 1.19 per cent, at 164,831.42 by 3:44pm. The previous close stood at 162,896.68.

The latest advance came a day after the stock market ended a seven-session losing streak. In the previous session, the benchmark index had gained 1,091.66 points as investors returned to the market.

Investor mood improves

Sentiment stayed positive amid encouraging developments in the ongoing negotiations between the United States and Iran, which helped ease geopolitical concerns.

A modest drop in international oil prices also supported investor confidence. The decline in oil prices was seen as easing inflation concerns and reinforcing expectations of macroeconomic stability.

The renewed buying interest marked a shift from the mood seen last week, when investors remained cautious. At that time, sentiment had been weighed down by the absence of tangible progress in US-Iran talks.

Concerns linked to the fragile situation in the Strait of Hormuz had also added to market pressure, as investors feared further disruption to global oil supplies.

Recent market trend

Wednesday’s intraday rise suggested that the market was maintaining the recovery seen in the previous session. The rebound followed a prolonged losing spell that had stretched over seven trading sessions before Tuesday’s gains.

The report attributed the latest improvement in equities to a combination of easing geopolitical worries and softer oil prices, both of which appeared to provide relief to investors monitoring inflation and broader economic stability.

With the KSE-100 index climbing sharply during the session, the PSX remained on a firmer footing compared to the weakness seen in recent days, when uncertainty surrounding regional developments and energy supply concerns had kept sentiment under pressure.

The market’s direction during the day reflected continued investor response to external developments, particularly the progress in US-Iran negotiations and movements in global oil prices, which remained key factors shaping trading sentiment.