The Pakistan Stock Exchange (PSX) continued its strong upward momentum on Thursday, with the benchmark KSE-100 Index gaining more than 1,300 points during the opening minutes of trading. The rally follows an impressive rebound in the previous session, reflecting sustained investor confidence amid improving global market sentiment, easing geopolitical tensions, and declining international oil prices.
By 9:40am, the KSE-100 Index had climbed 1,320.37 points, or 0.73%, to reach 181,335.30 points. The latest gains extended Wednesday's bullish performance, during which the benchmark index successfully reclaimed the 180,000-point milestone for the first time in 16 trading sessions.
Buying activity remained broad-based, with investors showing strong interest across key sectors of the market. Automobile assemblers, cement, chemical, commercial banks, fertiliser, oil and gas exploration, oil marketing companies (OMCs), and power generation companies all traded in positive territory, contributing to the market's continued rise.
Several heavyweight stocks played a significant role in driving the index higher, including Attock Refinery Limited (ARL), Hub Power Company (HUBCO), Mari Energies (MARI), Oil and Gas Development Company (OGDC), Pakistan Petroleum Limited (PPL), Pakistan Oilfields Limited (POL), MCB Bank, Meezan Bank (MEBL), and National Bank of Pakistan (NBP), all of which posted notable gains during early trading.
The positive momentum comes after Wednesday's remarkable rally, when the KSE-100 Index surged by 2,931.71 points, or 1.66%, to close at 180,014.93. That advance was largely driven by improving geopolitical conditions in the Middle East and a sharp decline in global crude oil prices, both of which strengthened investor sentiment and encouraged fresh buying across major sectors.
International market developments also influenced trading activity. Asian stock markets traded mixed on Thursday as investors paused following an artificial intelligence-driven rally, while oil prices remained relatively stable amid expectations of a potential peace agreement involving Iran. The MSCI Asia-Pacific Index excluding Japan slipped 0.69%, with technology stocks leading regional declines. South Korea's benchmark index fell 3.64%, while Japan's Nikkei dropped 1.57% due to weakness in semiconductor and technology shares.
Meanwhile, Wall Street ended lower overnight as investors reacted cautiously to earnings reports from major technology companies. Although several firms reported solid financial results, market expectations remained high, resulting in weaker overall sentiment.
Despite mixed global cues, the Pakistan Stock Exchange has maintained its bullish trajectory, highlighting growing investor confidence in the domestic market. Analysts believe that easing geopolitical risks, lower international oil prices, and improving economic sentiment continue to support the rally. However, investors are expected to closely monitor global economic developments, crude oil price movements, and geopolitical events for further direction in the sessions ahead.
