Shares at the Pakistan Stock Exchange’s benchmark index gained over 1,700 points in the intraday update as the workers’ remittances increased by 31.7 per cent during the first seven months of the current fiscal year as compared to the corresponding period of last year.

According to the PSX website, the KSE-100 index gained 1,704 points to reach 113,082.18 levels at 11:009pm.

On Monday, bulls charged ahead as the KSE-100 index surged on strong earnings.

The week commenced on a positive note as the bulls made a strong comeback, driving the index to an intraday high of 1,299 points before settling at 111,377—an increase of 1,055 points (0.96%).

“This surge was primarily fueled by better-than-expected corporate earnings, which bolstered investor sentiment and renewed buying interest across key sectors,” the Topline Securities said in a statement.

“Adding to the optimism, the Zarea IPO book-building process received a positive response, further lifting market sentiment and attracting fresh capital inflows. The uptick was largely driven by strong performances from MARI, ENGROH, HUBC, PPL, and ATRL, which collectively contributed 448 points to the index.”

Overall market activity remained strong, with 409 million shares traded and a total turnover of Rs23.8 billion.