The KSE-100 Index was up by 1,241.29 points or 0.75%, standing at 166,508.03 points.
Investor interest was particularly strong in the automobile, cement, commercial banking, oil and gas exploration, oil marketing companies (OMCs), power generation, and refinery sectors. Major blue-chip stocks including Mari, OGDC, POL, PPL, Hubco, PSO, SSGC, SNGP, and UBL were trading in the positive zone.
A key driver of improved business sentiment was significant progress toward a Staff-Level Agreement (SLA) between Pakistan and the International Monetary Fund (IMF). The Washington-based global lender stated at the end of its mission that the review talks for the Extended Fund Facility (EFF) and the Resilience and Sustainability Facility (RSF) had achieved substantial success.
According to the IMF’s statement, Pakistani authorities and the IMF mission made notable progress toward a consensus on the program’s second review. Program implementation remains strong and broadly aligned with government commitments.
Meanwhile, Israel and Hamas reached an agreement on Wednesday on the first phase of US President Donald Trump’s Gaza peace plan, which includes a ceasefire and the exchange of hostages. This development could pave the way for ending the two-year-long conflict.
On Wednesday, the PSX had witnessed a decline when the index closed at 165,266.75 points — down 907 points (0.55%) — due to institutional selling following early gains.
Globally, Asian stock markets rose on Thursday as investors renewed interest in artificial intelligence (AI)-related shares. Gold remained elevated at USD 4,000, while the US dollar maintained its recent strength.
Oil prices edged slightly lower as geopolitical tensions eased following the initial ceasefire agreement between Israel and Hamas.
US President Donald Trump said he might visit Egypt later this week to hold further discussions on the peace agreement.
