The Pakistan Stock Exchange (PSX) witnessed a massive buying spree on Thursday, pushing the benchmark KSE-100 index past the 168,000 mark for the first time in history amid strong investor confidence.
At the close of trading, the KSE-100 index surged by 2,849.29 points, or 1.69 percent, reaching 168,489.62. During intraday trading, the index even touched a record high of 168,619.32, reflecting broad market optimism.
Read more : PSX scales new all-time high as positive momentum continues
A total of 489 companies traded shares today, with 239 recording gains, 227 declining, and 23 remaining unchanged. The buying momentum was particularly visible in key sectors such as automobile assemblers, commercial banks, oil and gas exploration companies, and OMCs.
Index-heavy stocks including MARI, POL, SNGPL, SSGC, HBL, and UBL contributed significantly to the gains, as investors shifted their focus to equities in search of higher returns amid limited yields from other asset classes.
Read more : PSX gains 146 points to close at 165,640
Analysts noted that taxation incentives and stable economic indicators have encouraged investors to prefer equities over other assets. They also highlighted that market confidence has been strengthened by positive corporate announcements and government assurances.
In corporate news, Gillette Pakistan Limited confirmed that its parent company, Procter & Gamble, will exit its operations in Pakistan as part of a global restructuring plan. Meanwhile, Finance Minister Senator Muhammad Aurangzeb assured that the country is well-positioned to repay a $1.3 billion Eurobond maturing in April next year.