A positive trend returned to the Pakistan Stock Exchange on Thursday, as the benchmark KSE-100 Index surged by more than 900 points during the early minutes of trading.
According to reports, at 10:35 a.m., the benchmark index rose by 946.66 points, or 0.52 percent, to reach 183,516.47 points. Buying interest was observed in key market sectors including automobile assemblers, cement, commercial banks, fertilizers, oil and gas exploration companies, oil marketing companies, power generation, and refineries. Stocks such as ARL, Mari, Hubco, MEBL, MCB, HBL, SSGC, SNGPL, PSO, PPL, POL, OGDC, and UBL also remained in the positive zone.
It is worth noting that the equity market remained under pressure on Wednesday, with the benchmark index staying in the negative territory due to cautious investor sentiment. At the close of trading, the KSE-100 Index had fallen by 1,381.69 points, or 0.75 percent, to settle at 182,569.82 points.
Meanwhile, on the global front, oil prices on Thursday slipped from multi-month highs, while gold prices—considered a safe-haven investment—also retreated slightly from record levels.
Asian stock markets showed mixed trends, although selling pressure persisted in technology shares.
In Japan, the technology-heavy Nikkei index fell 0.9 percent after hitting a record high in the previous session, while the broader Topix index gained 0.4 percent to set a new record high on Thursday.
Taiwan’s index declined 0.5 percent, while Hong Kong’s Hang Seng slipped 0.4 percent amid pressure on technology stocks.
On mainland China, blue-chip shares remained broadly stable, whereas South Korea’s Kospi index rose 0.3 percent to reach a new record high.
In the United States, S&P 500 e-mini futures were down 0.1 percent, while in late trading, the cash market saw the S&P 500 index fall 0.5 percent. The technology-focused Nasdaq Composite recorded a decline of 1 percent.
