Investors push KSE-100 to new highs amid sector-wide gains

The Pakistan Stock Exchange (PSX) opened Thursday on a strong note, extending its winning streak with early gains of nearly 600 points.

The benchmark KSE-100 Index stood at 157,603.90 points by 9:35am, up 583.11 points or 0.37%. Major sectors, including banking, cement, automobiles, and oil and gas, saw positive activity.

The strong local performance came against the backdrop of a global tech rally led by Oracle.

The US-based firm’s 36% surge — its largest since 1992 — lifted sentiment in Asian markets, boosting tech stocks in Japan, Taiwan, and South Korea. SoftBank shares surged 9% in Tokyo, riding the wave of AI-driven optimism.

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While PSX was driven primarily by local investor confidence and sector-wide buying, analysts noted that global momentum in technology is helping to fuel optimism.

European stocks, however, remained muted, with investors cautious ahead of a key interest rate decision from the European Central Bank.

The dual effect of strong local fundamentals and positive global cues is expected to support PSX’s upward trajectory, though market experts caution against volatility in the coming weeks.