KARACHI – Pakistan Stock Exchange (PSX) witnessed strong buying spree, touching new high of 165,000 in early trading.
On Tuesday, the index gained around 903.92 points, or 0.55%, reaching 165,300 before coming down to 164,751.60.
Investor interest was particularly strong in automobile assemblers, commercial banks, fertiliser companies, oil and gas exploration firms, OMCs, and power generation and refinery stocks. Heavyweights such as ARL, HUBCO, OGDC, POL, PPL, SNGP, SSGC, MCB, MEBL, and UBL traded firmly in positive territory, driving the market rally.
Market optimism comes amid ongoing discussions between Pakistan and the International Monetary Fund (IMF).
On Monday, talks began on the second review of the $7 billion Extended Fund Facility (EFF) programme and the first review of the Resilience and Sustainability Facility (RSF), focusing on fiscal performance and governance reforms. Analysts say these negotiations are likely supporting investor confidence and boosting market sentiment.
More updates to follow…
