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KARACHI: Despite persistent uncertainty on the geopolitical front, the Pakistan Stock Exchange (PSX) on Wednesday witnessed selective value hunting, helping the market reverse a three-session losing streak and propel the benchmark KSE-100 index above the 180,000 milestone.
Topline Securities Ltd said the bulls made a strong comeback after continuous profit-taking since Friday, as investors returned to the market following recent profit-taking. The index hit an intraday high of 1,054 points at 180,901.27 before settling at 180,311.22, up 464.53 points or 0.26 per cent.
Meanwhile, towards the close, sentiment received an additional boost after reports emerged that the US and Iran had agreed to extend their ceasefire, ahead of the expiry of the 60-day deadline under the Islamabad Memorandum of Understanding, according to Anadolu Agency, citing a Pakistani source.
KSE-100 index settles above 180,000 level
