PSX extends gains despite late selling

KARACHI (Our Correspondent): The Pakistan Stock Exchange maintained its recovery momentum on Thursday as the benchmark KSE-100 Index closed with a gain of 768.66 points, or 0.46%, at 166,186.16.

The market opened volatile, dipping to an intra-day low of 165,613.11, before staging a sharp recovery. Buying accelerated around mid-day, lifting the index to an intra-day high of 166,877.01. However, late-session profit-taking trimmed gains.

According to Topline Securities, the rebound was supported by selective accumulation in index-heavy stocks after the recent correction. Sentiment remained cautious amid fluctuating international oil prices, geopolitical developments and institutional fund flows.

Analysts said the market is attempting to stabilize after volatility, but sustainability will depend on fresh triggers, earnings outlook and global market direction, where Asian markets remained under pressure on US inflation concerns.