PSX: positive momentum continues, KSE-100 gains nearly 1,600 points

Business Recorder reported that the KSE-100 stood at 167,316.40 by 11:10am on Thursday, a rise of 1,579.65 points, or 0.95%. The move extended Wednesday’s rebound, when the benchmark finished at 165,736.76 after adding 1,269.55 points, equivalent to 0.77%.

The publisher said buyers were active in several areas, including banks, power producers, oil and gas explorers, and automobile makers. HUBCO, MARI, POL, PPL, PSO, SNGPL, HBL, MCB, MEBL and UBL were among the advancing index-heavy shares. Elsewhere, Asian markets were mixed: Alphabet’s post-market decline pressured Nasdaq futures, while Samsung shares fell despite record quarterly operating profit; the Federal Reserve left rates unchanged.