PSX extends gains as KSE-100 crosses 180,000 mark

LAHORE BUREAU —The Pakistan Stock Exchange (PSX) continued its positive run in mid-day trading on Wednesday, with the benchmark KSE-100 Index rising 1,111.05 points, or 0.62 per cent, to 180,446.29. The Index opened with early selling pressure before recovering and crossing the 180,000 level. It has traded between a low of 178,642.36 and a high of 180,482.50 so far in the session.

The previous close stood at 179,335.24. Trading volume reached 214.29 million shares, while the value of shares traded stood at Rs20.27 billion. The market remains open. Wednesday’s advance builds on Tuesday’s strong rally, when the KSE-100 closed at 179,335.24 after gaining 5,448.56 points, or 3.13 per cent.

That session was supported by easing geopolitical tensions, a decline in international oil prices and solid remittance inflows. Read: PSX roars back after long weekend as KSE-100 jumps 5,449 points Buying interest was observed in commercial banks, oil and gas exploration companies and oil marketing companies.

Index-heavy stocks such as UBL, MCB, MEBL, NBP, OGDC, PPL and SSGC traded higher at various stages of the session. Volumes remained active, with Cnergyico, Bank of Punjab, SSGC, Pak Elektron and Pakistan International Bulk Terminal among the more heavily traded names. The Index is still subject to further movement before the close of trading.