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KARACHI: The Pakistan Stock Exchange (PSX) on Thursday extended the overnight recovery rally for the second straight session, supported by positive economic sentiment following easing of Middle East tensions, pushing the benchmark KSE-100 index above the 182,000-point level in intraday trade.
Topline Securities Ltd said the broad-based buying pushed the index back above the 181,000 level on easing geopolitical concerns and renewed institutional participation.
The index closed at 181,776.60, up 1,761.66 points, or 0.98 per cent. It traded within an intraday range of 180,626 to 182,007.
The market has now recovered nearly 4,700 points over the past two sessions, reversing a significant share of the losses recorded earlier this week. The sharp rebound was fuelled by improving risk appetite as concerns over Middle East tensions eased, and lower oil price volatility encouraged buying in cyclical sectors.
