PSX: buying continues, KSE-100 up over 700 points

Business Recorder reported that buying carried on at the Pakistan Stock Exchange on Thursday, pushing the KSE-100 up more than 700 points in the opening minutes. Around 9:35am the index hovered at 170,675.18, a gain of 705.86 points or 0.42 per cent. Investors picked up shares across automobile assemblers, cement, commercial banks, exploration firms and oil marketing companies.

The Federal Board of Revenue, or FBR, extended on Wednesday the filing deadline for tax year 2026 income returns, moving it to October 15 from an earlier September 30 date. The index had already added 368.92 points, or 0.22 per cent, on Wednesday to finish at 169,969.33. Heavyweight stocks DGKC, HBL, MCB, MEBL, NBP, MARI, POL and PSO all traded in positive territory.

Globally, Asian shares were subdued and global bonds stayed under strain after a difficult September, as US inflation for August came in softer than forecast. That eased expectations of another Federal Reserve rate increase this month, with traders now pricing a 38 per cent chance of a hike, down from 50 per cent a day earlier. Micron's standout earnings did not boost regional sentiment, while stalled US-Iran peace talks kept crude prices high.