The Pakistan Stock Exchange (PSX) continued its upward trend on Tuesday, with the benchmark KSE-100 Index rising by over 650 points.
Earlier in the day, the index reached an intra-day high of 86,846.03.
By around 2:45 pm, the index was trading slightly lower but still showed strong momentum at 86,718.73 points, reflecting an increase of 661.22 points or 0.77%.
Broad-based buying was observed across key sectors, including automobile assemblers, cement, chemicals, commercial banks, oil and gas exploration, oil marketing companies, and refineries. Major stocks like OGDC, PPL, SSGC, HBL, and MEBL were all trading positively.
Market analysts attribute the optimistic sentiment to improved economic indicators, such as a current account surplus for September and reduced political uncertainty following the parliament’s approval of the 26th Constitutional Amendment Bill.
“The momentum is supported by political clarity,” stated Sana Tawfik, Head of Research at Arif Habib Limited (AHL), in an interview with Business Recorder.
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She also mentioned that corporate results align with market expectations. “We anticipate the Consumer Price Index (CPI) to be around 6.3% in October, while the market expects inflation to range between 6.3% and 6.5%. This has intensified calls for a more significant reduction in policy rates.”
