The Pakistan Stock Exchange (PSX) witnessed a positive trend on Thursday, with the benchmark KSE-100 Index surging by more than 1,000 points in early trading. The index rose 1,017.73 points (0.61%) to reach 166,704.11 points.
Strong buying activity was observed across multiple sectors including automobile assemblers, cement, commercial banks, oil & gas exploration companies, OMCs, power generation, and refineries. Major stocks such as MARI, POL, PPL, SSGC, PRL, HUBCO, HBL, MCB, and UBL were all trading in the positive zone.
A key development that fueled market optimism was the staff-level agreement between Pakistan and the International Monetary Fund (IMF). The agreement, which is subject to IMF Executive Board approval, will pave the way for the release of a $1.2 billion tranche to Pakistan.
On Wednesday, the stock market had shown a mixed trend, as investors opted for profit-taking following a sharp rally in the previous session, although trading volumes remained significantly high. The benchmark KSE-100 Index had closed at 165,686.38 points, up by 210.36 points (0.13%).
Globally, most Asian markets traded higher on Thursday, supported by an overnight rally in the U.S. chip sector, which strengthened the semiconductor industry.
