KARACHI — Buying momentum continued at the Pakistan Stock Exchange on Wednesday, with the benchmark KSE-100 Index gaining more than 1,150 points during intra-day trading, reflecting improved investor sentiment at the open.

At 10:50am, the KSE-100 Index was hovering at 188,067.12, up by 1,166.39 points, or 0.62%, according to market data. The early gains followed a positive close in the previous session, when the index ended Tuesday up by around 1%, extending a short-term recovery in local equities.

Regional and global market cues were mixed. Asian stocks traded cautiously after steep losses in US and European equities, driven by concerns that rapid advances in artificial intelligence could disrupt traditional software and data-driven business models. Selling pressure, however, was relatively subdued in Asia, where markets have greater exposure to hardware manufacturing.

MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.2%, while Japan’s Nikkei fell 1.23%. US equity futures also pointed lower, with Nasdaq futures down 0.25% after a sharp overnight decline, and S&P 500 futures off 0.1%. EUROSTOXX 50 futures dipped 0.07%.

Commodity markets provided a mixed backdrop. Oil prices edged higher after reports of heightened tensions in a key shipping route, while precious metals found some stability following a recent sell-off in global markets.

PSX sheds over 1,100 points after early gains fade amid selling pressure

Despite external volatility, the PSX opened on a firm note, supported by continued buying interest, as investors weighed global developments against domestic market dynamics.