The Pakistan Stock Exchange (PSX) saw its benchmark KSE-100 index surpass the 81,000 level for the first time in its history during trading on Tuesday.
According to the PSX website, the benchmark KSE-100 index climbed by 521.22 points or 0.7% to touch the highest level of 81,087.42 points at 11:15 am.
The market observed a strong buying spree in key sectors such as cement, automobile makers, chemicals, banks, fertilizer manufacturers, oil and gas exploration companies, and OMCs. Major stocks like OGDC, PPL, HBL, MCB, MEBL, and NBP traded positively, contributing to the index’s rise.
Market analysts suggest that current optimism in the PSX is mainly driven by hopes for macroeconomic recovery and the government’s potential new agreement with the International Monetary Fund (IMF).
At the day’s close, the index settled at 80,672.06 points, up by 105.86 points or 0.13% from the previous close.
On Monday, the PSX continued its bullish trend despite a fire incident that halted trading for over two hours. The KSE-100 index closed at a record high of 80,566.21 points.
