A positive trend returned to the Pakistan Stock Exchange (PSX) on Wednesday, with the benchmark KSE-100 index rising by more than 500 points during the early trading session.
By 10:00 AM, the benchmark index had gained 567.16 points (0.35%), reaching 161,502.29 points.
Strong buying was observed in major sectors including automobile assemblers, cement, commercial banks, fertilizers, oil & gas exploration companies, OMCs, power generation, and refineries.
ARL, HUBCO, Mari, OGDC, POL, PPL, HBL, MCB, Meezan Bank, and UBL were seen trading in the positive zone.
It may be recalled that on Tuesday, the benchmark KSE-100 index had dropped 752.05 points, closing at 160,935.13 points.
Meanwhile, on the international front, Asian markets remained subdued on Wednesday as concerns over AI valuations kept investors cautious.
The tech-heavy Nasdaq index fell 1.2% overnight, marking its second consecutive day of decline.
According to sources, due to valuation concerns, the index has fallen more than 6% from the record levels it set at the end of October.
S&P 500 futures and Nasdaq 100 futures traded largely unchanged during the Asian session.
Japan’s Nikkei remained somewhat volatile but rose 0.4%, while South Korea’s KOSPI fell 0.8%.
