Karachi: The Pakistan Stock Exchange (PSX) witnessed a remarkable surge on Tuesday as its benchmark KSE-100 Index soared to unprecedented heights, crossing the historic 70,000-point mark for the first time in its history, further affirming the bullish trend gripping the market.
At 1:00 pm, the KSE-100 Index stood at an impressive 70,460 points, marking a substantial increase of 840.2 points or 1.21% from the previous session. Earlier in the trading session, the index had peaked at an intra-day high of 70,677.29 points, reflecting the robust investor confidence and strong buying activity prevailing in the market.
The KSE-100 has been experiencing a winning streak over the past few weeks, consistently setting new record highs fueled by various factors including expectations of a monetary easing cycle, lower inflation figures, increased dollar inflows, and an overall positive sentiment surrounding Pakistan’s economy.
The surge in the KSE-100 has been broad-based, with sectors such as cement, banks, autos, and energy contributing significantly to the rally, indicating a diverse and robust market performance.
The surge in the KSE-100 Index is attributed to several factors, including notable progress in the privatization program and a significant uptick in foreign investment, contributing to the bullish sentiment pervading the market.
It is worth noting that Monday’s bullish momentum had set the stage for Tuesday’s historic achievement, with the KSE-100 settling at its then-highest-ever closing of 69,620 points.
Dear TNT Reader,
At The News Tribe, our mission is to bring you free, independent, and unbiased news and content that keeps you informed and empowered. We are committed to upholding the highest standards of journalism, as we understand that we are a platform for truth.
Apart from independent global news coverage, we also commit our unique focus on the Muslim world. In an age marked by the troubling rise of Islamophobia and widespread misrepresentation of Muslims in Western media, we strive to provide accurate and fair coverage.
But to continue doing so, we need your support. Even a small donation of 1$ can make a big difference. Your contribution will help us maintain the quality of our news and counteract the negative narratives that are so prevalent.
Please consider donating today to ensure we can keep delivering the news that matters. Together, we can make a positive impact on the world, and work towards a more inclusive, informed global society.
Donate Monthly Subscription Annual Subscription
