The Pakistan Stock Exchange (PSX) continued its upward march on Friday, with the benchmark KSE-100 Index adding more than 400 points in early trading.
At 9:35am, the index stood at 158,387.68 points, reflecting a gain of 434.22 points or 0.27%.
Strong buying interest in index-heavy sectors such as commercial banks, oil and gas exploration companies, power generation, and refineries fueled the positive momentum.
Major players including MARI, OGDC, PPL, POL, HUBCO, ARL, MCB, MEBL, and NBP traded firmly in the green.
The rally comes on the heels of surge on Thursday when the KSE-100 Index soared 1,775.65 points, or 1.14%, to close at 157,953.47.
Read More: Silver Gains as Gold Holds Flat in Pakistan
The optimism was spurred by reports of a mutual defense agreement signed between Pakistan and Saudi Arabia, which lifted investor sentiment and bolstered across-the-board buying.
Globally, Asian markets remained buoyant as hopes of further monetary stimulus provided support. The Nikkei climbed to record levels, with expectations that the Bank of Japan would refrain from raising rates.
Meanwhile, central banks in the United States, Canada, and Norway cut rates this week, while the Bank of England maintained its policy stance.
