PSX rallies over 1,100 points, extends winning streak

The Pakistan Stock Exchange (PSX) extended its winning streak for a fourth consecutive session on Thursday, with

KARACHI:The Pakistan Stock Exchange (PSX) extended its winning streak for a fourth consecutive session on Thursday, with the benchmark KSE-100 Index gaining more than 1,100 points by midday amid continued buying interest and improving investor sentiment.

The index was trading at 166,873.49 points, up 1,136.74 points, or 0.69%, from the previous close of 165,736.75 points.

During the session, the benchmark moved between 165,907.29 and 167,483.48 points, reflecting sustained demand for selected stocks. Trading volume reached approximately 191 million shares, while the total value of shares traded stood at around Rs12.27 billion by early afternoon.

The latest gains followed Wednesday’s strong performance, when the KSE-100 Index climbed 1,269.55 points, or 0.77%, to close at 165,736.76 points. Better-than-expected corporate earnings and improved market sentiment had supported the previous session’s rally.

Buying activity on Thursday remained concentrated in selected stocks, particularly in the fertiliser, banking and power sectors, which have contributed to the market’s recent recovery.

However, trading activity remained moderate compared with Wednesday’s turnover as investors assessed whether the upward momentum could be sustained near the 167,000-point level.

Market analysts noted that the latest advance reflected the broader recovery observed over the previous sessions. They also cautioned that investors could book profits if share prices climbed further.

Despite the possibility of short-term selling pressure, the index remained comfortably above its previous close at midday, keeping the market in positive territory as trading continued.

The continued advance has extended the benchmark’s recovery, with investors closely monitoring corporate earnings, sector-specific activity and overall market sentiment for further direction.