The Pakistan Stock Exchange (PSX) on Wednesday continued its winning streak with the benchmark KSE-100 Index gaining nearly 2,900 points after the Kingdom of Saudi Arabia committed $3 billion in additional deposits to Pakistan.
At close, the benchmark index settled at 168,519.94, an increase of 2,885.10 points or 1.74%.
Broad-based buying was witnessed across major sectors, including cement, commercial banks, oil and gas exploration, oil marketing companies (OMCs), power generation, and refineries. Index-heavy stocks such as ARL, PRL, OGDC, POL, PPL, MARI, HBL, MCB, MEBL, and UBL all traded in positive territory.
On Tuesday, the Pakistan Stock Exchange (PSX) continued its strong recovery, staging a powerful relief rally driven by easing geopolitical tensions and renewed optimism over potential diplomatic engagement between the United States and Iran.
The benchmark KSE-100 Index surged by 5,043.51 points, or 3.14%, to close at 165,634.85 points.
Meanwhile, global oil prices declined for a second consecutive day on Wednesday amid expectations that US–Iran peace talks could resume, potentially easing supply constraints linked to disruptions in the Strait of Hormuz.
Brent crude futures slipped 16 cents, or 0.2%, to $94.63 per barrel after a 4.6% drop in the previous session. Similarly, US West Texas Intermediate (WTI) crude fell 70 cents, or 0.8%, to $90.58 per barrel.
