PSX climbs further on back of energy loan

The Pakistan Stock Exchange (PSX) extended its bullish momentum on Thursday, when investors drove a broad-based rally across key sectors as they took cue from earnings announcement by an automaker and a $330 million energy loan from the Asian Development Bank (ADB). The benchmark KSE-100 index closed at 162,936.94, marking an increase of 710.66 points, or 0.44%. It traded between the intra-day high of 163,818 and low of 162,647. Oil & gas, cement and power stocks led the advance, helping the index maintain its positive streak throughout the day. KTrade Securities, in its report, observed that PSX carried forward its positive momentum, with the KSE-100 index rising 711 points (+0.44% day-on-day). Gains were primarily driven by oil & gas, cement and power sectors, where Mari Energies and Hub Power led the upside, followed by Oil and Gas Development Company, Pakistan Petroleum, Systems Limited and Pioneer Cement.