KARACHI: Pakistan’s PSX Rally gathered momentum on Wednesday as strong buying across major sectors lifted the benchmark KSE-100 Index by more than 2,581 points during intraday trading. Investors responded positively to improving global market sentiment and reports of potential external financing support, driving widespread gains across the stock market.

By 1:29pm, the KSE-100 Index was trading at 179,664.27, up 2,581.05 points, or 1.46%, from the previous close of 177,083.22. During the session, the benchmark touched an intraday high of 179,536.15 and a low of 178,512.09.

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Broad-Based Buying Boosts Market

More than 100 words into the session, the PSX Rally continued to strengthen as investors accumulated shares across several heavyweight sectors.

Commercial banks, cement, fertiliser, exploration and production (E&P), oil marketing companies, power generation, and technology stocks all posted strong gains, reflecting broad-based market participation.

Trading activity also remained robust. Benchmark volumes reached 185.76 million shares, while the total traded value climbed to Rs16.10 billion, highlighting strong investor interest.

Global Optimism Supports Sentiment

Market confidence improved after US President Donald Trump said his administration had held “very good discussions” with Iran during high-level negotiations on Tuesday.

The prospect of easing geopolitical tensions and possible progress toward reopening the Strait of Hormuz helped push oil prices lower and lifted Asian equity markets. The improved global outlook encouraged investors to increase exposure to risk assets, including Pakistani equities.

China Loan Refinancing Adds Confidence

Investor sentiment also strengthened after reports that Pakistan requested China to refinance a $1.3 billion commercial loan.

The refinancing is expected later this month once both sides finalise the terms and conditions. Market participants viewed the development as a positive sign for Pakistan’s external financing position and foreign exchange outlook.

The KSE-100 Index maintained its upward trend throughout the trading session. It gained 2,028.73 points by 9:54am, advanced 2,115.37 points by 11:29am, and extended its rally into the afternoon, reflecting sustained buying interest and improving market confidence.