PSX: KSE-100 up nearly 900 points

Business Recorder reported that the benchmark KSE-100 gained 879.74 points in the opening minutes of Thursday's trading on the Pakistan Stock Exchange. At 10:38am the index hovered at 168,901.54, up 0.52%. Buying was concentrated in refinery and power generation counters, alongside OMCs, oil and gas exploration firms, cement, commercial banks and automobile assemblers.

The KSE-100 ended Wednesday's session 1,370.52 points lower at 168,021.80, a 0.81% decline. Higher international oil prices and lingering regional tensions damaged investor confidence and triggered broad profit-taking across major sectors. Worries over macroeconomic stability, pressure on external accounts and fears of a long-lasting disruption in world oil markets also weighed on the index all session.

Overseas, Asian shares edged up on Thursday after the Federal Reserve lifted interest rates by a quarter point, its first hike in more than three years, which helped calm a global bond sell-off. The decision was widely anticipated, but the unanimous vote leaned hawkish, with the board flagging one more increase this year. The greenback reached a seven-week peak versus leading currencies, while short-term Treasury yields rose and oil prices eased.