KARACHI:

The benchmark KSE-100 Index extended its positive momentum on Thursday, closing at 184,520.96 points, up 470.86 points (+0.26%) from the previous session.

The market opened on a strong note and rallied throughout the morning, touching an intraday high of 185,890.52 points as buying interest remained robust across key sectors, according to Topline Securities.

However, profit-taking emerged during the second half of the session, dragging the index to an intraday low of 184,214.79 points before selective late-session buying helped the market recover and close in positive territory.

On the index contribution front, heavyweight stocks UBL, LUCK, OGDC, PPL, and TRG were the major contributors to the benchmark index’s gains, collectively adding approximately 469 points to the day’s advance.

Market activity remained healthy, with a total traded volume of 994 million shares and a traded value of approximately Rs. 55.7 billion.

Read: PSX soars 3748 points on easing inflation

On Wednesday, PSX staged a strong rally where the benchmark KSE-100 Index climbed more than 2% as aggressive buying in heavyweight sectors reflected growing investor confidence in the country’s economic outlook.

The KSE-100 closed at 184,050.10, up 3,748.40 points, or 2.08%. It touched the intra-day high of 184,234 after slipping to the low of 180,566, with sustained buying propelling the market sharply higher.

The rally was driven by strong demand for stocks of commercial banks, oil and gas exploration companies, oil marketing firms, cement manufacturers, auto assemblers and power generation companies.