PSX climbs 1,270 points as policy fears ease
The Pakistan Stock Exchange (PSX) put on an impressive show on Wednesday as the benchmark KSE-100 index staged a strong rally, driven by accelerating purchases in the final hours despite lingering concerns over monetary tightening and rising international oil prices. The market opened on a steady note and quickly advanced, reaching 164,830.55, up 363.35 points, or 0.22%, within minutes of the opening bell. It touched the intra-day high of 166,100.34 and low of 164,355.83. Investors came back and buying gathered pace late in the session, which helped the KSE-100 index close with notable gains of 1,269.55 points, or 0.77%, at 165,736.76.