PSX climbs as global AI rally lifts sentiment

The Pakistan Stock Exchange (PSX) carried forward its bullish momentum on Thursday, with the benchmark KSE-100 gaining nearly 600 points in early trading.

The index climbed to 157,603.90 points at 9:35am, up 583 points or 0.37%. Strong demand for banking, energy, and cement stocks drove the gains, with HUBCO, OGDC, PPL, and UBL leading the charge.

The rally comes on the back of Wednesday’s close at a record 157,020.80, when the index rose 457 points. Analysts say strong local participation is underpinning the uptrend, with investors targeting blue-chip counters.

Globally, optimism was boosted by a massive 36% surge in Oracle shares, which fuelled AI-driven rallies in Asian tech markets. The positive global backdrop is expected to reinforce investor sentiment in Pakistan, though volatility risks remain.