Buying continues at bourse, KSE-100 up over 2,400 points in early trade

Buying continued at the Pakistan Stock Exchange (PSX) as market sentiments improved following a decline in oil prices. The benchmark KSE-100 Index gained over 2,400 points during the opening minutes of trading on Wednesday. At 10:15am, the benchmark index was hovering at 158,589.72, up 2,412.60 points, or 1.54%. Buying was observed in key sectors, including automobile assemblers, cement, commercial banks, OMCs and refinery. Index-heavy stocks, including CNERGY, FFC, MCB, MEBL, UBL and LUCK, traded in the green. On Tuesday, Pakistan’s equity market staged a powerful recovery as aggressive buying across key sectors helped the benchmark index recoup a substantial portion of the previous session’s losses, reflecting renewed investor confidence at the PSX.