PSX surges as KSE-100 gains nearly 7,000 points

Pakistan Stock Exchange witnessed a strong rally on Wednesday as heavy buying pushed the market sharply higher.

The benchmark KSE-100 Index jumped by 6,962 points, or 4.23%, to close at 171,704.75. This marked one of the biggest single-day gains in recent sessions.

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

A day earlier, the index had also shown positive movement, rising 793 points to close at 164,742.47. Early gains were supported by easing geopolitical tensions, although some volatility was seen later due to uncertainty in global energy markets.

In the international oil market, prices fell for a second straight day. Brent crude dropped $1.89 to $107.98 per barrel, while West Texas Intermediate fell $1.83 to $100.44.

The decline in oil prices came amid expectations of improved supply from the Middle East, following comments suggesting possible peace talks related to tensions with Iran.