Positive momentum continued at the Pakistan Stock Exchange (PSX) on Wednesday with the benchmark KSE-100 Index gaining nearly 7,000 points.
At close, the benchmark index settled at 155,511.56, an increase of 6,768.25 points or 4.55%.
Buying momentum was witnessed across major sectors, including automobile assemblers, cement, commercial banks, fertilizer, oil and gas exploration, OMCs, power generation, and refineries. Index-heavy stocks such as HBL, MCB, MEBL, UBL, MARI, OGDC, PPL, POL, PSO, HUBCO, and ARL all traded in positive territory.
On Tuesday, the Pakistan Stock Exchange staged a strong recovery, as fresh institutional and retail buying triggered a sharp rebound in benchmark indices following several sessions of losses. Investor sentiment improved on the back of encouraging macroeconomic indicators and supportive corporate developments.
The benchmark KSE-100 Index settled at 148,743.32 points, posting a gain of 1,900.34 points, or 1.29%.
Meanwhile, global oil prices also moved higher, rising more than 1% on Wednesday. Brent crude extended its gains after recording a significant monthly increase in March, as ongoing volatility in the Middle East kept markets on edge despite reports suggesting a possible easing of tensions between the United States and Israel with Iran.
The front-month Brent contract for June rose $1.40, or 1.4%, to reach $105.37 per barrel.
