KARACHI:

The KSE-100 Index continued its upward momentum on Thursday, closing at 171,175 points after gaining 984 points, or 0.58%, in a session marked by strong investor confidence and broad-based buying.

The KSE-100 Index extended its recovery and closed at 171,175 points, gaining 984 points (+0.58% DoD) in a strong session supported by broad-based buying across the market, according to KTrade. Investor sentiment remained positive throughout the day, with major sectors including E&Ps, cements, fertilisers, and technology contributing to the advance. 

Market activity remained healthy, with KSE-100 volumes recorded at 216mn shares. The major volume leaders were PIBTL (32mn shares), PTC (22mn shares), and MLCF (19mn shares). On the index front, FFC, PPL, OGDC, LUCK, and PTC emerged as the key contributors, accounting for a significant portion of the day’s gains. 

Read: PSX gains 421 points to settle at 171,021

Investor sentiment was further supported by firmness in international oil prices amid ongoing uncertainty surrounding US-Iran negotiations. While concerns over delays in diplomatic progress initially pushed crude prices higher, oil has gradually retreated from recent peaks and is currently trading around the mid-$90s per barrel range. 

Going forward, developments in the Middle East, oil price movements, and expectations surrounding the upcoming federal budget are likely to remain key market drivers, noted KTrade.