Buying spree continues as PSX gains 397 points

Pakistan Stock Exchange (PSX) on Thursday continued its buying spree as investor confidence grew on the back of robust corporate earnings, which helped KSE-100 index notch up gains of nearly 400 points. The bourse remained in the green for most of the day, reaching its intra-day high of 114,202, reflecting strong gains compared to the prior session. Strong performance by key sectors such as cement and banking propelled the index higher. However, the current account deficit of $420 million for January, coupled with the increase in government bond yields, caused jitters in the market. As a result, selling pressure in the second half wiped off most of the day's gains. Among major economic news, the finance minister stated, "We need to bring other sectors including agriculture, real estate, retail and wholesale into the tax net."