Positivity returns to PSX, KSE-100 gains over 1,400 points

At 3pm, the benchmark index was hovering at 112,915.56, an increase of 1,428.20 points or 1.28%.

Buying interest was observed in index-heavy sectors including automobile assemblers, cement, chemical, commercial banks, oil and gas exploration companies, OMCs, power generation and refineries.

Key stocks including HUBCO, NRL, PSO, SHEL, SNGP, OGDC, PPL, POL, MARI, MCB and MEBL traded in the green.

“Major banks will commence announcing their annual results today with Bank Alfalah,” said Intermarket Securities in a note.

“The next key milestone is the International Monetary Fund (IMF) review due in the end of February, which should reinforce the market view on continued macro stability,” it added.

On Wednesday, selling pressure continued at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index falling for a third consecutive session, closing the day lower by 543 points at 111,487.36, amid a lack of positive triggers.

Internationally, Asian share markets were mixed in thin trading on Thursday as much of the region was on holiday for the Lunar New Year. At the same time, the US dollar trod water after the Federal Reserve signalled a pause in policy easing.