PSX: Benchmark index gains over 1,100 points in early trade

Business Recorder reported that the Pakistan Stock Exchange opened Thursday with strong buying, pushing the KSE-100 index more than 1,100 points higher in the first minutes. By 9:40am the benchmark had reached 178,533.76, a gain of 1,163.06 points or 0.66%.

Demand was visible in banking, cement, car makers, exploration companies, oil marketing firms, power generators and refiners. Heavyweight shares including HUBCO, MARI, OGDC, PPL, POL, HBL, MCB, MEBL and UBL were trading in positive territory.

The market had been closed on Wednesday for Eid-Milad-un-Nabi. On Tuesday the index finished 404.02 points, or 0.23%, higher at 177,370.71, supported by bank and cement stocks even as energy counters saw profit-taking. Overseas, Asia-Pacific stocks advanced as Nvidia's earnings beat estimates, while a Federal Reserve inflation gauge remained firm.