Bulls dominated trading on the Pakistan Stock Exchange on Thursday as the benchmark KSE-100 Index surged past key technical barriers, gaining 642.30 points or 0.82 percent to settle at 78,840 points amidst brisk institutional participation.
The rally was predominantly spearheaded by blue-chip commercial banking giants following stellar second-quarter corporate earnings announcements and sustained optimism regarding foreign exchange reserves and bilateral balance of payment flows.
Exploration and production (E&P) companies and fertilizer scrips also registered robust turnover, fueled by favorable international crude benchmarks and expectations of a benign inflation print in the upcoming State Bank monetary review.
Market analysts attributed the upbeat sentiment to sustained structural reform momentum, with brokerage leaders projecting continued institutional liquidity inflows as foreign portfolio investors expand their local asset allocations.
