Benchmark KSE-100 index surges 2.82% as investors cheer prospects of de-escalation and softer oil prices
\n KARACHI
\nA strong wave of buying swept through the Pakistan Stock Exchange (PSX) on Wednesday, as improving geopolitical sentiment and expectations of easing oil prices kept investors upbeat.
\nWhile the overall trend remained firmly positive, some volatility was witnessed midday. However, momentum strengthened later in the session, with the index gradually rising to around 3,424 points by 2:00pm.
\nThe market recorded an intra-day high of 158,586.09 and a low of 155,199.71, reflecting initial fluctuations followed by sustained upward movement.
\nUltimately, the benchmark KSE-100 index climbed 4,347.08 points or 2.82% over the previous close and settled at 158,313.45.
\nInvestor sentiment was supported by reports that Pakistan may assume a mediatory role between the United States and Iran, raising hopes of easing tensions in the Middle East. This, in turn, fuelled expectations of softer global oil prices, a positive development for Pakistan\u2019s economic outlook.
\nOverall sentiment remained positive, driven by continued buying interest across key sectors, including automobile assemblers, cement, commercial banks, fertiliser, oil and gas exploration companies, OMCs, power generation and refinery.
\nOverall trading volume increased to 612.3million compared with Tuesday\u2019s tally of 375.3million. The value of traded shares stood at Rs34.5billion.
\nShares of 489 companies were traded. Of these, 363 closed higher, 77 fell and 49 remained unchanged. Unity Foods was the volume topper with trading in 72.7million shares, gaining Rs0.58 to close at Rs8.57.<\/p>\n","protected":false},"excerpt":{"rendered":"
Benchmark KSE-100 index surges 2.82% as investors cheer prospects of de-escalation and softer oil prices KARACHI A strong wave of buying swept through the Pakistan Stock Exchange (PSX) on Wednesday, as improving geopolitical sentiment and expectations of easing oil prices kept investors upbeat. While the overall trend remained firmly positive, some volatility was witnessed midday. […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-538256","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n