The Pakistan Stock Exchange (PSX) opened strongly on Wednesday morning, with the benchmark KSE-100 Index rising by nearly 900 points during early trade.
By 9:40am, the index stood at 158,831.61 points, showing a sharp gain of 886.59 points or 0.56 percent compared to Tuesday’s close.
Strong buying interest was observed in commercial banks, cement, fertiliser, oil and gas, power generation, refineries, and OMCs, with major index-heavy stocks trading positively.
Leading performers included HBL, MCB, UBL, HUBCO, MARI, OGDC, PPL, PSO, SNGPL, and SSGC, reflecting renewed investor confidence in Pakistan’s capital market.
Investors were upbeat ahead of a key development, as the government and 18 banks prepare to sign a Rs1.225 trillion financing agreement.
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The deal is aimed at easing the circular debt crisis in the power sector, which has long burdened the national economy and energy market.
On Tuesday, the KSE-100 closed at 157,945.03 points after gaining 390.36 points, in a volatile session pressured by derivative rollover factors.
Meanwhile, global equity markets moved lower on Wednesday, as Wall Street losses and Powell’s remarks raised concerns over US monetary policy direction.
MSCI’s broadest Asia-Pacific index fell 0.4 percent, while Japan’s Nikkei slipped 0.5 percent following weak manufacturing data and declining new orders in September.
Australian markets also posted losses of one percent, driven by inflation concerns, while Asian equities overall remain on course for their strongest monthly performance.
