PSX: positive momentum continues, KSE-100 gains nearly 400 points

The KSE-100 was up 367.61 points, or 0.22%, at 166,104.36 by 9:45am on Thursday, as buying continued in early trading, Business Recorder reported. The index had gained nearly 400 points in the opening minutes, with activity reported in automobile assemblers, commercial banks, oil and gas exploration, oil marketing and power generation.

HUBCO, MARI, POL, PPL, PSO, SNGPL, HBL, MCB, MEBL and UBL were among the index-heavy shares trading higher. The move followed Wednesday’s 1,269.55-point advance, which took the benchmark to 165,736.76 at the close. In Asia, markets were mixed, with the MSCI Asia-Pacific index excluding Japan down 0.7% and Japan’s Nikkei up 0.3%, as investors reacted to company earnings and US rate news.