Summary The Pakistan Stock Exchange continued its upward momentum during trading on Thursday, with the benchmark index regaining the 181,000-point level
KARACHI (Dunya News) - The Pakistan Stock Exchange continued its upward momentum during trading on Thursday, with the benchmark index regaining the 181,000-point level.
At the start of the fourth trading day of the week, the market witnessed strong buying activity. The benchmark index surged by more than 1,100 points, reaching 181,869 points during intraday trading.
The positive performance follows the previous trading session, when the benchmark index closed at 180,511 points after gaining 118 points.
Meanwhile, the US dollar edged down by one paisa in the interbank market, declining from Rs278.27 to Rs278.26.
Earlier, Asian stocks were steady and oil prices dipped on Thursday as investors assessed progress toward ending the war in the Middle East after the presidents of the U.S. and Iran signed an interim peace deal, though uncertainties still hovered.
MSCI's broadest index of Asia-Pacific shares outside Japan was flat. Japan's Nikkei share average rallied to another record high, surging past the 71,000 level for the first time, on solid gains in semiconductor and AI-related shares, while South Korean shares gained 0.9%. U.S. stock futures, the S&P 500 e-minis, were up 0.81% at 7,484.8.
The benchmark 10-year Japanese government bond yield rose 2 basis points to 2.620%, poised for its highest close since June 16, after earlier touching 2.63%.
Overnight on Wall Street, all three major indexes fell close to or more than 1% as traders bet that the Federal Reserve's next move would be a rate hike after new Fed Chair Kevin Warsh highlighted the need to tame inflation and other policymakers projected rising interest rates later this year.
The Dow Jones Industrial Average fell 507.12 points, or 0.98%, to 51,492.55, the S&P 500 fell 91.25 points, or 1.21%, to 7,420.10 and the Nasdaq Composite fell 354.69 points, or 1.34%, to 26,021.66.
The yield on benchmark 10-year Treasury notes rose to 4.471% compared with its U.S. close of 4.463% on Wednesday. The 2-year yield, which rises with traders' expectations of higher Fed funds rates, touched 4.1759% compared with a U.S. close of 4.163%.
