At 10 AM, the benchmark KSE-100 index rose by 715.44 points (0.42%) to reach 170,171.82 points for the first time.
Strong buying was observed in major sectors, including automobile assemblers, cement, commercial banks, oil & gas exploration companies, oil marketing companies (OMCs), power producers, and refineries.
HBL, PPL, POL, OGDC, Mari, Hubco, and UBL were seen trading in the positive zone.
Sources attributed this positive trend to the IMF Executive Board’s approval, which paved the way for Pakistan to receive approximately $1.2 billion under the EFF and RSF programs.
It is worth noting that the stock market remained bullish on Tuesday as well, where investors opened new positions in major sectors, significantly boosting overall market activity. The benchmark index surged by 1,153.14 points, closing at 169,456.39 points for the first time in Pakistan’s history.
Meanwhile, at the global level on Wednesday, Asian shares and Wall Street futures declined. However, the sudden sharp fall in the Japanese yen and the continued rapid increase in silver prices drew attention, as both touched new record levels.
Additionally, MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a slight decline of 0.1%, while China’s blue-chip stocks fell by 0.8% following mixed inflation data.
