Buying across key sectors, positive signals from US lift benchmark index past 148,700
KARACHI:
The Pakistan Stock Exchange (PSX) staged a strong recovery on Tuesday, with buying momentum returning as trading remained underway around midday. As of approximately 12:29pm, the benchmark KSE-100 index was hovering near 148,700, posting a gain of over 1,821.49 points, or around 1.24%, after touching an intraday high of 149,684.93.
The market maintained a firm upward trend through the first half of the session, despite some mild fluctuations. Gains were largely driven by renewed interest in key sectors including automobile assemblers, power generation and refining, cement, commercial banks, oil and gas exploration companies, as well as oil marketing companies.
Read: PSX tumbles 4,864 points in volatile session as KSE-100 closes below 147,000
Market sentiment was further supported by improving global developments, particularly after US President Donald Trump indicated that direct talks with a more moderate leadership in Iran were making “significant progress”, adding to investor optimism.
With trading still in progress, current sentiment suggests the index is likely to remain range-bound in the second half, with the possibility of further gains should the buying interest persist.
The midday snapshot shows that the benchmark KSE-100 index was positioned at 148,726.98, exhibiting a gain of 1,884.01 points or 1.28% compared to the previous close of 146,842.97. During the session so far, the index touched an intra-day high of 149,684.93 and a low of 147,743.67.
Additionally, trading activity was robust, with total volume reaching 85.38 million shares and the value of traded shares amounting to approximately Rs6.89 billion, reflecting sustained investor participation.