PSX continues to rally; the KSE-100 index is up 153 points

The Pakistan Stock Exchange ended trading on a positive note on Thursday, with the benchmark KSE-100 index up 153 points to close at 174,929 points.

The index fluctuated during the trading day and remained in a band of around 902 points. Initially, the market was dominated by buying, but later investors turned cautious.

According to market sources, Pakistan’s progress in securing $3 billion in funding from the global debt market supported investor confidence. Trading started on a positive note after this news.

However, the situation in the Middle East continues to be a cause of concern for investors. Due to the ongoing tensions in the region, uncertainty persists in global financial markets, the effects of which are also being seen on the local stock market.

A total of about 620 million shares were traded during the trading session, worth Rs 25 billion.

On the other hand, the total market capitalisation increased by about Rs 5 billion to Rs 19,586 billion.

According to analysts, the positive developments related to external financing are encouraging for the local market; however, due to the global geopolitical situation and the cautious strategy of investors, the market is likely to remain volatile.