KARACHI: Bulls dominated the Pakistan Stock Exchange (PSX) on Thursday. Investor sentiment rebounded strongly after a slight dip in the previous session.
The benchmark KSE-100 Index surged by 1,112.68 points. It closed at 119,649.20, marking a solid gain of 0.94% from Wednesday’s close of 118,536.52. The index touched an intraday low of 118,871.13 before rallying.
This rise follows Wednesday’s marginal loss of 39.36 points. That dip, equivalent to -0.03%, came after three consecutive days of gains. However, Thursday’s performance showed renewed buying interest across major sectors.
Market analysts say the uptick was driven by improving investor confidence. Factors include clarity on economic policies and expectations of stability in interest rates. Traders noted that institutional buying contributed to the bullish trend.
“The market saw strong support from mutual funds and foreign investors,” said a senior trader at a Karachi-based brokerage house. “It’s a clear sign that confidence is being restored.”
Volumes also rose, reflecting active participation. Major gainers included stocks from the banking, oil, and cement sectors. Blue-chip companies led the charge, helping maintain momentum throughout the trading day.
A surge in global oil prices and a stable rupee added further support. Investors appeared optimistic about ongoing talks with global lenders and hopes for fiscal discipline.
The broader sentiment turned positive as key resistance levels were broken. Technical analysts said the market’s strong close above 119,000 points signals further upside potential in the near term.
Market experts advise caution, though. “While the momentum is encouraging, investors should still be mindful of volatility,” warned one analyst.
The PSX’s performance on Thursday reflects a resilient outlook. Traders and investors will now watch closely for developments on the economic front and corporate earnings in the coming days.
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