PSX up 800 points after holiday reopen
“The Pakistan Stock Exchange (PSX) stayed firmly in the green at midday on Thursday, with the benchmark KSE-100 index up 805.08 points, or 0.45 per cent, at 178,175.78. The market reopened after a one-d…”
The market reopened after a one-day closure on Wednesday for Eid Miladun Nabi. Buying gathered quickly after the opening bell. By 9:40am, the index had already gained more than 1,100 points and was hovering near 178,534.
It later touched an intra-day high of 178,650.01 before some profit-taking set in. The session low so far was 178,010.21. Tuesday’s close of 177,370.70 had left the index just short of a level that had acted as resistance for several sessions.
Thursday’s trade marked a clear attempt to hold above 178,000. Early buying spanned automobile assemblers, cement, commercial banks, oil and gas exploration companies, oil marketing companies, power generation and refineries. Heavyweights including HUBCO, MARI, OGDC, PPL, POL, HBL, MCB, MEBL and UBL traded higher in the morning.
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Read:PSX up 400 points amid mixed trading. At the time of the mid-session, volume stood at about 131 million shares with a traded value of Rs14.38 billion. The market remained open, and activity was still building.
Recent sessions had been range-bound, with the 178,000–180,000 zone repeatedly capping upside even when banks and fertiliser names provided support. A modest 404-point gain on Tuesday had not broken that pattern. The post-holiday open, helped by a firmer start in Asian markets, gave bulls a cleaner run at the same barrier.
Whether the index can close above 178,000 will depend on afternoon flows. For now, Thursday’s session has been the strongest test of that resistance in days.
Written by Sara Ali
Aman-e-Pakistan Senior Journalist & Bureau Reporter
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