PSX rally continues as KSE-100 hits new high
At 10:50am, the benchmark index was hovering at 145,814.78 level, an increase of 726.29 points or 0.50%.
Buying interest was observed in key sectors including oil and gas exploration companies, OMCs, power generation and refinery. Index-heavy stocks, including ARL, HUBCO, MARI, OGDC, PSO, PPL traded in the green.
On Wednesday, the PSX sustained its record-breaking rally as the benchmark KSE-100 Index soared by 2,051 points, or 1.43%, to settle at an all-time closing high of 145,088.50 points.
In a statement from the Prime Minister's Office, PM Shehbaz Sharif expressed satisfaction as the stock exchange index surpassed the 145,000-point mark, signalling increased investor confidence in government policies.
PM attributed the surge in stock market activity to business-friendly reforms and said providing support for investment remains a top priority for his administration.
International markets
Asian equities rose on Thursday, with Japanese shares hitting a record high, as tech-led gains on Wall Street, upbeat earnings and growing expectations for U.S. rate cuts boosted sentiment.
The prospect of a meeting between U.S. President Donald Trump and Russian President Vladimir Putin over the war in Ukraine also underpinned sentiment, benefiting the euro, while weighing on oil prices as traders gauged the outlook for sanctions on Moscow.
At the same time, markets largely shook off Trump's latest tariff threats, including an additional 25% tariff on India over purchases of Russian oil and a threatened 100% duty on chips.
Japan's broad Topix index rose 0.9% to reach an all-time high, with the more tech-focused Nikkei also gaining by about the same margin.
Taiwan's stock benchmark surged 2.3% to a more than one-year peak. South Korea's KOSPI added 0.6%.
Hong Kong's Hang Seng rose 0.4%, and mainland Chinese blue chips advanced 0.3%.
This is an intra-day update
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