PSX: KSE-100 opens marginally higher, adds over 100 points

Business Recorder reported that the KSE-100 index was trading higher at 10:10am on Wednesday, standing at 168,571.04 after a gain of 110.94 points, or 0.07 per cent. Buyers were active in commercial lenders, fuel marketers, power generators and refinery stocks, with automobile assemblers and cement also attracting purchases. Heavyweights HUBCO, PSO, POL, MCB, MEBL and UBL were reported in positive territory.

A separate development involved the Federal Board of Revenue, which informed the International Monetary Fund that 1,016 retailers and shopkeepers had filed returns under the Aasan Tax Scheme. That figure surfaced during review discussions connected to the fourth review of the $7 billion Extended Fund Facility, according to the report.

The index had closed 1.56 per cent higher on Tuesday at 168,460.11, gaining 2,592.79 points, as easing crude oil concerns and bargain hunting followed a steep fall in the previous session. Overseas, Asian shares were slightly weaker on Wednesday even though US stocks finished higher on Tuesday, with the S&P 500 setting a fresh record. US crude rose 1.05 per cent to $90.38 a barrel, while Brent gained 1.06 per cent to $101.65 per barrel.