PSX Jumps Over 800 Points After Holiday, KSE-100 Holds Above 178,000
KARACHI, PAKISTAN — WEB DESK: The Pakistan Stock Exchange (PSX) returned from a one-day holiday on a bullish note on Thursday, with the benchmark KSE-100 Index gaining more than 800 points by midday as buying spread across major sectors.
At midday, the benchmark was up 805.08 points, or 0.45%, at 178,175.78, keeping the index above the psychologically and technically important 178,000 level.
The market had remained closed on Wednesday for Eid Miladun Nabi, and investors returned with strong buying interest when trading resumed Thursday.
KSE-100 Gains More Than 1,100 Points in Early Trade
The bullish momentum was considerably stronger during the opening phase of the session.
By around 9:40am, the KSE-100 had gained more than 1,100 points and was trading near 178,534, as buying accelerated across several heavyweight sectors.
The benchmark subsequently climbed to an intraday high of 178,650.01 before profit-taking reduced some of the early gains.
The session low at the time of the report stood at 178,010.21, meaning the benchmark remained above the 178,000 mark even after the early rally cooled.
Broad-Based Buying Supports PSX
Buying interest was spread across several major sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration companies, oil marketing companies, power generation and refineries.
Major stocks trading higher during the morning included Hub Power Company, Mari Energies, Oil and Gas Development Company, Pakistan Petroleum, Pakistan Oilfields, HBL, MCB Bank, Meezan Bank and United Bank Limited.
The broad participation indicated that the rally was not confined to a single sector, although some of the initial momentum faded as investors booked profits.
178,000–180,000 Remains Critical Zone
The latest rally is significant because the KSE-100 has repeatedly struggled to make a sustained move through the 178,000–180,000 resistance zone in recent sessions.
On Tuesday, the benchmark gained 404.02 points, or 0.23%, to close at 177,370.71, but again failed to establish itself above 178,000.
Monday’s session had shown a similar pattern. The index reached an intraday high of 178,123 before profit-taking pushed it lower, eventually closing at 176,966.69.
Thursday’s move therefore represented another important attempt by investors to push the market through the resistance area.
Trading Activity Builds After Holiday
At the mid-session stage, approximately 131 million shares had changed hands, with traded value reaching around Rs14.38 billion. Trading remained underway, meaning final turnover and index figures were yet to be determined.
A firmer opening across Asian equity markets also provided a supportive international backdrop for Pakistani stocks.
The key question for investors remained whether the benchmark could sustain its momentum and close above 178,000, rather than merely crossing the level during intraday trading.
A sustained break through the broader 178,000–180,000 band could strengthen bullish sentiment, while renewed profit-taking could keep the market within the range that has constrained the index during recent sessions.
As the market was still open at the time of the source report, the 805-point rise and 178,175.78 index level should be treated as mid-session figures rather than Thursday’s final close.
