KARACHI:

The Pakistan Stock Exchange (PSX) displayed renewed bullish sentiment on Thursday with the benchmark KSE-100 Index trading firmly in positive territory during midday hours.

As of the latest update, the Index stood at 169,794.61, reflecting a gain of 367.17 points or 0.22% from the previous close of 169,427.44.

The market touched an intraday high of 169,824.08 and a low of 168,682.25, indicating healthy volatility within a supportive range.

Trading volume reached approximately 63.2 million shares, while the total value of trades stood at around Rs5.78 billion. The broader market showed mixed participation, with 175 scrips advancing, 240 declining, and 147 remaining unchanged.

Analysts attributed the upbeat performance to selective buying in key sectors amid expectations of stable macroeconomic indicators and potential positive triggers from corporate earnings.

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Banking and oil & gas stocks reportedly provided strong support, helping the index recover from early session dips.

The market has been navigating a corrective phase in recent sessions following a strong rally earlier in the year, with the KSE-100 still significantly higher year-on-year despite short-term pressures.

Market participants remain cautious ahead of key economic data releases and global cues, particularly movements in international oil prices due to the Israel-US war on Iran and foreign exchange reserves.

With the market open and momentum building, analysts suggest the session could close on a positive note if buying interest sustains.