The Pakistan Stock Exchange (PSX) experienced a minor increase on Thursday, with the KSE-100 index gaining over 550 points. At 2:45pm, the index was at 64,494.96, up by 575.12 points or 0.90%. This turnaround came after some profit-taking and consolidation in the previous sessions around the 64,000-65,000 level. The federal government borrowing Rs283 billion boosted sentiments, with investors locking in rates at higher yields. There was also interest in the energy sector, especially in OMCs and oil exploration companies. The PSX saw a mixed trend, with some sectors trading in the green and others in the red. In a key development, four new exploration blocks were provisionally awarded in Balochistan and Sindh, with gas reserves discovered in North Waziristan district. Globally, Asian stocks rose on Thursday, and MSCI’s index of Asia-Pacific shares outside Japan was higher. This update is for the day.
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