Bulls continued to dominate trading on the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index rising more than 400 points during the day.
The benchmark index was hanging around 48,643.30 at roughly 12:40 pm, an increase of 412.80 points or 0.86%.
On Tuesday, the index gained for the ninth straight session on positive economic indicators, finishing with a rise of 195.91 points, or 0.41%, to 48,230.51.
Meanwhile, on Wednesday, buying was seen in index-heavy sectors such as oil and gas exploration, OMCs, chemical, and engineering.
Commercial banks, automakers, and the cement industry all showed a mixed picture.
Since the adoption of the International Monetary Fund’s (IMF) $3 billion Stand-By Arrangement last month, the stock market has stayed buoyant.
According to experts, the E&P sector was especially upbeat after learning that Barrick Gold had agreed to pay Pakistan’s share of the investment in Pakistani rupees.
The agreement was struck during a meeting on Tuesday between Prime Minister Shehbaz Sharif and a group from Barrick Gold Corporation led by Chief Executive Officer Mark Bristow.