PSX gains nearly 2,000 points as KSE-100 continues to rise

The Pakistan Stock Exchange (PSX) continued its positive momentum on Wednesday, with the benchmark KSE-100 Index gaining nearly 2,000 points.

At the end of trading, the KSE-100 Index closed at 164,831.42 points, showing an increase of 1,934.74 points or 1.19 percent.

Strong buying activity was seen in major sectors, including automobile companies, cement, commercial banks, oil and gas exploration firms, and power generation companies.

Heavyweight stocks such as UBL, Mari Energies, PPL, OGDC, and KML traded in positive territory and supported the market’s upward movement.

The market had already shown a strong recovery on Tuesday after easing geopolitical tensions linked to US-Iran talks improved investor sentiment. Lower international oil prices also helped the market recover part of its recent losses.

On Tuesday, the benchmark index had gained 1,091.66 points to close at 162,896.68 points.

Meanwhile, international oil prices remained under pressure on Wednesday. Brent crude oil fell by 45 cents to $110.83 per barrel, while US West Texas Intermediate (WTI) crude slipped by 27 cents to $103.88 per barrel.

Oil prices declined after US President Donald Trump said the conflict with Iran could end quickly, while ongoing peace talks between Washington and Tehran also improved market sentiment globally.