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PSX Rallies Over 1,700 Points as KSE-100 Extends Winning Streak
['Sabica Tahira']
TechJuice
The Pakistan Stock Exchange (PSX) extended its strong upward momentum on Thursday, with the benchmark KSE-100 Index gaining more than 1,700 points as investor confidence strengthened amid optimism over a proposed Iran-Oman deal that could help ease tensions in the Middle East.
The market opened on a bullish note, with the KSE-100 Index rising more than 1,500 points in early trading before maintaining its gains throughout the session.
At the close of trading, the benchmark index settled at 181,776.59 points, up 1,761.66 points, or 0.98%, from the previous session.
The easing geopolitical concerns, coupled with lower international crude oil prices, encouraged fresh buying across Pakistani equities.
Global markets also traded higher as investors welcomed stronger corporate earnings and viewed the proposed Iran-Oman initiative as a sign of possible de-escalation in the region.