PSX crosses 180,000 mark as KSE-100 rebounds from early losses, gains over 1,400 points

The KSE-100 moved above 180,000 in Wednesday’s session after reversing an early slide, according to Profit by Pakistan Today. It reached 180,769 around 1:00 pm, up 1,433 points from the prior close, before standing at 180,343.12 at 2:20 pm, a rise of 1,007.88 points or 0.56%. The index had fallen by more than 600 points soon after opening, as attacks on Strait of Hormuz shipping revived worries about energy supplies.

Buying extended across several groups, including automobile parts, chemicals, investment companies, oil and gas marketing, property, refineries, technology and communication, transport and tobacco; banks and exploration firms also drew interest. Tuesday’s advance had added 5,448.56 points, or 3.13%, taking the benchmark to 179,335.24 at the close. Elsewhere, Asian shares advanced, while oil changed little: Brent rose 19 cents to $91.68 a barrel and US WTI slipped 6 cents to $85.98, as markets assessed Middle East risks and hopes for reduced conflict.