PSX: KSE-100 up over 700 points

The KSE-100 was 0.62% higher at 166,176.01 by 9:58am on Wednesday, a rise of 1,024.37 points, Business Recorder reported in an intraday update. At 4pm, it stood at 165,930, representing a 0.47% advance. The later reading showed a smaller gain than the early-session level.

Trading was stronger across several areas, including vehicle makers, cement, banks, exploration firms, oil marketing companies and power producers. The report said ARL, HUBCO, MARI, OGDC, PPL, POL, SSGC, SNGPL, HBL, MEBL, NBP and UBL were among the shares in positive territory. This followed Tuesday’s 814.44-point drop, which left the benchmark at 165,151.64, down 0.49%; overseas, Asian shares also advanced as investors responded to early signs of strong corporate earnings.