KARACHI: Pakistan Stock Exchange (PSX) on Wednesday gained 500 points amid easing geopolitical tensions and positive triggers in the local market, analysts said.
The benchmark KSE-100 Index gained 515.01 points or (0.42%) closing at 122,761.64 levels.
The index continued its upward trend, touching an intraday high of 1,009 points before closing at 122,762 — up 515 points or 0.42% for the day. The rise showed improving investor confidence, Topline Securities Pvt Ltd stated.
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Stocks showed recovery as investors weigh Israel- Iran ceasefire talks easing inflation, surge exports. Approval of loans worth $194 million from the World Bank (WB) and $350 million form the Asian Development Bank (ADB) impacted the sentiments, Ahsan Mehanti, CEO at Arif Habib Commodities said.
“Surging global equities, deliberations over privatisation of state-owned enterprises (SOEs), strong rupee and the government’s resolve over circular debt management plan played a catalyst role in bullish activity at PSX,” Mehanti added.
The KSE-100 index witnessed bullish momentum during today’s trading session as buying continued following de-escalation in geopolitical tensions after the announcement of a ceasefire between Iran and Israel by US President Donald Trump, Pearl Securities stated.
Top gainers driving the index higher included BAHL, HBL, FATIMA, DGKC, and NATF, together adding 372 points.
Market activity stayed strong, with 738 million shares traded and a total value of PKR 27 billion. WTL led the volumes, with 102 million shares changing hands.
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In the last session, the PSX climbed 6000 points or 5.23% in a second-highest single day rise after Trump’s announcement of the Iran-Israel ceasefire.
The Index rose 6,079,16 or 5.23% closing at 122,246.63 level, after trading was halted for an hour as KSE 30 rallied 5% in the morning, in the previous session.