The Pakistan Stock Exchange (PSX) witnessed a strong buying rally on Thursday morning, as investor sentiment lifted following government steps to tackle circular debt.
At 10:05am, the KSE-100 Index stood at 158,758.04 points, showing an increase of 521.37 points or 0.33 percent during early market activity.
Cement, banking, power generation, and oil marketing companies witnessed buying, with index-heavy stocks including HBL, MCB, UBL, HUBCO, and POL trading in positive.
Market optimism strengthened after the government signed a financing agreement worth Rs1.225 trillion with a consortium of eighteen banks for the energy sector.
Separately, Prime Minister Shehbaz Sharif is scheduled to meet United States President Donald Trump today in Washington, weeks after a bilateral trade deal.
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On Wednesday, the PSX had closed higher at 158,236.68 points, adding 291.65 points or 0.18 percent after a day of volatile market swings.
Globally, Asian shares steadied as investors adjusted positions before month-end, while Japan’s yen weakened further and the Swiss franc remained strong.
Meanwhile, Wall Street futures gained marginally ahead of speeches from Federal Reserve officials, with markets awaiting clarity regarding possible future interest rate cuts.
The MSCI Asia-Pacific index outside Japan slipped slightly after a strong monthly rally, while Japan’s Nikkei advanced further, supported by quarterly market optimism.
