PSX: Stocks maintain upward momentum, KSE-100 up 1,100 points

Business Recorder reported that buying interest lifted the benchmark KSE-100 index by nearly 1,100 points during the opening hours of Thursday's trading on the Pakistan Stock Exchange. The index stood at 181,391.87 at 10:50am, a gain of 1,080.66 points or 0.60 per cent. This followed a Wednesday recovery, when buyers returned after a pair of sessions marked by profit-taking and the index closed at 180,311.22 points.

Buyers focused on cement, commercial bank, fertiliser, oil marketing and power generation counters. Heavyweight stocks HUBCO, FFC, MCB, NBP and UBL were also in positive territory.

Abroad, Asian shares rose after US consumer prices for July increased 0.1 per cent, in line with forecasts, which eased bets on another near-term Federal Reserve rate increase. Crude hovered near $80 a barrel while Washington and Tehran remained at an impasse over ending the Gulf war. Reports of an extension to the US-Iran ceasefire had also lifted the market late on Wednesday.