PSX extends gains as KSE-100 surges over 1,400 points intraday

Profit reported that buying persisted on the Pakistan Stock Exchange on Thursday, pushing the KSE-100 index more than 1,400 points higher during the session. Banking, energy and car assembler shares attracted the most demand. By 2:05 pm the index stood at 166,470.06, up 1,052.55 points or 0.64%, against the prior close of 165,417.51.

The index touched an intraday peak of 166,877.01 points, a gain of 1,459.50 points, after opening firmly. This followed Wednesday's advance, when the index added 641.07 points, or 0.39%, to close at 165,417.51, and Pakistan Refinery Limited was among the counters drawing investor interest.

Elsewhere, technology shares slumped across Asia after losses on Wall Street, with South Korea's KOSPI falling more than 8% and Japan's Nikkei 225 down 5.4%. Oil prices also eased, as Brent crude slipped $2.28 to $103.78 per barrel by 0729 GMT, though attacks on ships in the Middle East limited the drop.