Islamabad: The Pakistan Stock Exchange experienced a notable surge in the latter half of the trading session, driven by a significant payout announcement from Mari Petroleum. This led to heightened activity in the Oil and Gas sector, pushing the overall market index to an intra-day high, marking a substantial gain by the session’s close.

According to JS Global, the market turnaround was predominantly influenced by developments in the Oil and Gas sector, with Mari Petroleum, OGDC, and PPL playing pivotal roles in the index’s rise. The report highlights an 839-point increase to an intra-day high of 77,953, with the index finally settling at 77,874, up by 760 points from the opening. The substantial contributions from key players led to a revised investment strategy, advocating a ‘Buy on Dips’ approach, particularly focusing on sectors like Oil and Gas, Refinery, Technology, and Fertilizer.

This market movement reflects broader trends and investor sentiments, focusing on robust sectors that promise high returns amid fluctuating market conditions. The overall market capitalization also saw an increase, reinforcing the positive momentum generated by the strategic investments in high-performing sectors.