The Pakistan Stock Exchange extended its winning run on Wednesday, with the benchmark KSE-100 index rising in early trade after two straight sessions of gains. The index gained 166.25 points, or 0.10 percent, to reach 164,633.45 in early trading, and had touched 164,830.55, up 363.35 points, in the opening minutes of the session.
Buying was seen across major sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration companies and power generation, with index-heavy stocks such as HUBCO, MARI, POL, HBL, MCB and MEBL trading in the green. The advance follows Tuesday’s 1,428.73-point gain, when the index closed at 164,467.20, and Monday’s 663.59-point rise.
For investors, the third straight positive session suggests buying interest has held up even after the State Bank’s rate rise to 12 percent, though the early gains were modest compared with Tuesday’s surge and traders remain watchful ahead of the US Federal Reserve decision later in the day.
Sources: Dunya News, Business Recorder. Written in our own words for information only.