After back to back dull sessions, the Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index saw a brief rally towards the end of trading on Thursday, as investors weighed an announcement by the Election Commission of Pakistan (ECP) that general elections in the country would take place in last week of January 2024.
Trading at the KSE-100 remained range-bound most part of the day, but witnessed a boost after the electoral watchdog unveiled the election week.
At close, the benchmark index settled at 46,202.13, with an increase of 312.55 points or 0.68%. Previously, the KSE-100 had found the 46,000-point barrier difficult to sustain.
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“The equity market witnessed positive momentum today [Thursday] following the ECP’s announcement of holding elections in last week of January 24,” brokerage house Ismail Iqbal Securities stated in its post-market report.
Commercial banks, cement, and oil & gas exploration companies sectors were major contributors as they cumulatively added 234 points to the index, the brokerage house said.
