Karachi
Buying spree continued at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index gaining nearly 400 points on Thursday.
The KSE-100 witnessed buying for most part of the day, hitting an intra-day high of 114,202.14, a gain of around 860 points as compared to the previous day.
However, some selling in the second half trimmed the intra-day gains.
At close, the benchmark index settled at 113,739.16, up by 396.72 points or 0.35%.
“The KSE-100 Index showed a positive trend, bolstered by strong results,” brokerage house Topline Securities said in its post-market report.
This uptick was mainly driven by CHCC, FCCL, PIOC, DGKC, and MCB, which together accounted for 353 points of the total gain, it added.
On Wednesday, bullish momentum continued at the PSX, with the KSE-100 closing the day at 113,342.44, up by 253.96 points or 0.22%.
On the global front, Asian shares fell sharply on Thursday, tracking choppy trading on Wall Street and a dip in European stocks as US President Donald Trump’s tariff plans and a cautious stance from Federal Reserve policymakers hurt risk sentiment.
The risk-off mood lifted gold prices to a record high, while safe-haven currencies led by the Japanese yen also firmed on geopolitical worries.
Trump said on Tuesday that sector-wide tariffs on pharmaceuticals and semiconductor chips would start at “25% or higher,” rising substantially over a year.
He intends to impose similar tariffs on autos as soon as April 2.
