KARACHI – Pakistan Stock Exchange witnessed powerful rally as KSE-100 index surged past 140,000 mark, gaining over 700 points in early trading.
The bullish momentum comes just ahead of State Bank’s Monetary Policy Committee (MPC) meeting, with investor optimism high on expectations of stable interest rates and economic recovery.
Before noon, KSE benchmark index howvered at fiery 140,068.97, up 688.92 points from previous close, a surge that sent shockwaves across financial circles. Trading volume crossed 61 million shares before noon, with the value of transactions approaching a staggering Rs4.7 billion on Tuesday.
CHBL, ASLCPS, DIIL, and SARC, all of which hit their upper circuits with gains nearing 10%. Other rising stars included SASML, UDPL, FML, and SHCM. Dewan Textile Mills Limited plunged nearly 12%, dragging HWQS, GEMNETS, and BRRG down with it.
Pakistani rupee showed muscle in the currency market, edging up by 11 paisa against the dollar, which traded at Rs283.10 in early dealings.
With investor confidence riding high and economic signals turning positive, the PSX is heating up and all eyes are now on where the market heads next.
