As KSE-100 gains 1,000 points and regains the 166,000 level, PSX rises.

Driven by strong purchasing across major industries and investor confidence, the benchmark KSE-100 Index rose about 1,000 points in early trade on Wednesday, continuing the Pakistan Stock Exchange’s (PSX) positive streak.

The KSE-100 Index was up 988.75 points, or 0.60%, at 166,482.33 at 9:50 a.m. Index-heavy equities such as HUBCO, MARI, OGDC, PPL, POL, PSO, WAFI, MCB, NBP, and UBL spearheaded the surge.

There was a lot of purchasing activity in industries like automakers, commercial banks, fertilizers, oil and gas exploration firms, OMCs, and power producers. Analysts think that if investor sentiment stays high, the current upward trend may continue.

The IMF review increases market attention.

The encouraging rise followed pressure from the International Monetary Fund (IMF) on Pakistan to advance the National Finance Commission (NFC) process, which is a crucial part of allocating resources between the provinces and the center.

As part of the continuing second assessment of the $7 billion program, technical conversations are being held between the IMF mission and the finance ministry under the Extended Fund Facility (EFF) and the Resilience and Sustainability Facility (RSF).

Tuesday’s record highs

The PSX gained 1,645.90 points (1%) to close at 165,493.59 on Tuesday, setting a new high. Due to widespread buying, this was one of the most robust rallies in recent months.

The world’s financial markets continued to be erratic. Gold jumped to a record $3,875 an ounce for the third straight session, while Wall Street futures declined, with S&P 500 and Nasdaq futures both dropping 0.5%.

In Asia, South Korea’s market rose 0.6% as exports expanded at their quickest rate in 14 months, while Japan’s Nikkei fell more than 1% following its impressive performance in the previous quarter.