The KSE-100 Index settled at 175,285.18 points, after touching an intraday high of 176,701 points.
KARACHI: Pakistan’s stock market closed sharply higher on Wednesday, with the benchmark KSE-100 Index gaining 1,766 points as investor buying pushed the market above two key psychological levels.
The KSE-100 Index settled at 175,285.18 points, after touching an intraday high of 176,701 points during trading. The benchmark had closed at 173,518 points in the previous session.
Trading activity remained robust, with 580 million shares changing hands in deals worth approximately Rs.26 billion.
A total of 565 companies traded on the Pakistan Stock Exchange. Share prices of 361 companies advanced, 104 declined, while the remaining stocks closed unchanged.
More read, Pakistan stocks fall 1.74% in weekly trade amid US-Iran tensions
Earlier, Pakistan Stock Exchange (PSX) ended the week in negative territory, with the benchmark KSE-100 Index declining 1.74% as heightened geopolitical tensions and rising global oil prices dampened investor confidence.
The KSE-100 Index lost 3,131 points during the five trading sessions, closing at 182,241 points, down from 185,372 points a week earlier. The decline pushed the market below three key psychological levels during the week.
Despite touching an intraday weekly high of 188,126 points, the benchmark index later fell to a weekly low of 179,411 points before recovering slightly by the close.
Market capitalization also contracted by Rs259 billion over the week, falling to Rs20.503 trillion, reflecting broad-based selling pressure across the market.
Market experts attributed the downturn primarily to renewed tensions between the United States and Iran, coupled with higher international crude oil prices.
