PSX Closing Bell: Bulls Close the Loop

Mettis Global reported that the KSE-100 benchmark rebounded sharply on Thursday, closing 1,021.39 points, or 0.61 per cent, higher at 169,043.19. Buying in oil and gas exploration, banking and cement shares lifted the index, which stayed in positive territory throughout the session. Its peak for the day was 169,576.52, while the low of 168,222.91 stood 201.11 points above the previous close.

According to the report, the rally came as oil prices fell, since worries about supply disruptions eased once Saudi Arabia started arranging substitute crude cargoes after attacks on its main East-West pipeline. That easing gave investors some comfort and boosted appetite for risk on the Pakistan Stock Exchange.

Among the index's 100 companies, 73 ended higher, 26 lower and one unchanged, with PGLC the top gainer at 8.10 per cent. Across the wider market, 296 of 500 companies ended up, the All-Share Index added 687.69 points or 0.68 per cent to reach 102,244.62, and trading volume rose to 386.37 million shares, up from 356.14m. Oil and gas exploration stocks and commercial banks provided the biggest lift, adding 339.41 and 303.90 points, while fertilizer and automobile assemblers subtracted 34.47 and 31.09 points.