PSX climbs 1,270 points as policy fears ease

The KSE-100 rose 1,269.55 points, or 0.77%, to close at 165,736.76 on Wednesday, extending its gains for a third consecutive session, The Express Tribune reported. The index moved between 164,355.83 and 166,100.34, while ready-market turnover reached 578 million shares, up from 402 million on Tuesday, and traded value was Rs26 billion.

The report attributed the advance to stronger late-session buying and a policy rate increase that was smaller than investors had expected: the State Bank raised the rate by 50 basis points to 12%. Banks, fertiliser, automobile and power stocks led buying; Hub Power supported the index after announcing a Rs5-per-share payout. Foreign investors sold shares worth Rs624 million, while Brent crude near $115 per barrel and geopolitical uncertainty remained concerns.