The Pakistan Stock Exchange (PSX) on Wednesday witnessed a massive buying spree as the benchmark KSE-100 Index gained nearly 7,000 points.
At close, the benchmark index settled at 171,704.75, an increase of 6,962.28 points, or 4.23%.
Buying activity was observed across major sectors at the Pakistan Stock Exchange, including automobile assemblers, cement, commercial banks, oil and gas exploration firms, OMCs and power generation companies.
The KSE-100 Index extended its upward momentum on Tuesday, rising 793.53 points, or 0.48%, to settle at 164,742.47. Early gains were driven by easing geopolitical concerns, although some volatility emerged later in the session due to uncertainty in global energy markets.
Meanwhile, oil prices declined for a second consecutive day on Wednesday amid expectations that supply from the Middle East could improve. This follows signals from Donald Trump suggesting a potential peace agreement to end tensions with Iran.
Benchmark Brent crude fell $1.89, or 1.7%, to $107.98 per barrel, while West Texas Intermediate dropped $1.83, or 1.8%, to $100.44, extending losses from the previous session.
