PSX: Buying continues, KSE-100 up over 1,000 points

Buying interest lifted the Pakistan Stock Exchange on Wednesday, with the KSE-100 index climbing more than 1,000 points during intraday trade. At 11:55am the benchmark stood at 172,469.68, up 1,067.60 points or 0.62 per cent, according to Business Recorder.

Gains were broad, with purchases seen in car assemblers, cement, banks, exploration producers, oil marketing firms and refineries. Index heavyweights HBL, MCB, MEBL, NBP, MARI, OGDC, POL and PPL traded in positive territory, while ARL also moved higher.

Business Recorder, citing official sources, said an IMF staff mission has reportedly landed in Pakistan to begin talks on a fourth review of the Extended Fund Facility and a third review of the Resilience and Sustainability Facility. The index had closed marginally higher on Tuesday at 171,402.08 points, as late bargain hunting erased early weakness even as international oil prices declined. Globally, Asian equities were poised to extend their advance for a sixth day, buoyed by AI-related demand, while oil eased on reports of higher Middle East output.