PSX climbs nearly 400 points amid sustained buying interest

The KSE-100 stood at 164,863.97 points at 12:49pm on Wednesday, gaining 396.77 points, or 0.24%, from its previous close of 163,038.46, The Express Tribune reported. The benchmark extended its advance for a third consecutive session, rising soon after the market opened and then retreating from earlier levels. The report gave an intraday range of 163,545.69 to 164,368.47 points.

Asian equities also advanced, with enthusiasm around artificial intelligence lifting sentiment before earnings announcements by major US companies. In contrast, oil prices jumped after an attack on a Saudi refinery renewed concerns about supply disruption amid the Middle East conflict. Brent rose $2.02, or 1.8%, to $115.90 a barrel, while US West Texas Intermediate gained $2.01, or 2%, to $101.91; higher crude costs were identified as a concern for Pakistan’s import bill and inflation.