$3b Saudi support fuels bullish rally as KSE-100 index surges over 2,500 points read more

Web Desk: Buying momentum continued at the Pakistan Stock Exchange (PSX) on Wednesday, with investors reacting positively to the Kingdom of Saudi Arabia’s commitment of an additional $3 billion in deposits for Pakistan, boosting market sentiment early in the session.

Trading commenced on a cheery note, and by 9:34am the benchmark KSE-100 Index had surged by 4,287.34 points, or 2.59%. The strong upward move also pushed the index above the key 170,000 level within the opening minutes of trading.

Market participants attributed the bullish trend to multiple positive triggers, including fresh financial inflows from Saudi Arabia, improving geopolitical sentiment amid talks of a second round of ceasefire discussions between Iran and the United States, and better-than-expected corporate earnings, which further reinforced investor confidence.