The buying rally at the Pakistan Stock Exchange continued on Tuesday, with the benchmark KSE-100 Index crossing the 185,000 level for the first time, extending the market’s record-setting run.
According to the PSX website, the market closed at 185,062.10 points, with an increase of 2,653.87 points, or 1.45%, from the previous close of 182,408.23.
Widespread gains were recorded across a wide range of sectors, including automobile assemblers, cement, commercial banks, fertiliser, oil and gas exploration companies, oil marketing companies, power generation and refineries. Index-heavy stocks such as ARL, HUBCO, MARI, POL, PSO, SNGPL, SSGC, HBL, MCB, MEBL, NBP and UBL were trading in positive territory.
During the intraday rally, the KSE-100 Index touched the highest level of 185,254.47 at around 01:30 pm, climbing up over 2,800 points. The rally followed a strong start to the week, when the PSX opened the New Year with heavy buying led by local institutional investors, particularly mutual funds.
On Monday, the benchmark index surged 3,373.31 points, or 1.88%, to close at 182,408.24.
Global markets were also supportive, with Asian equities extending gains on Tuesday after Wall Street ended at record levels. In the United States, oil and financial stocks helped lift the Dow Jones Industrial Average to an all-time high.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.4% to a record high. Japan’s Topix index jumped 1.3% to a fresh peak, while Hong Kong’s Hang Seng added 0.7%, Chinese blue chips gained 0.3% and Australia’s benchmark index rose 1%. South Korea’s KOSPI eased 0.4% after hitting record levels a day earlier.
US S&P 500 futures were up 0.1% following overnight gains in the cash market, where shares of major oil companies advanced sharply. US President Donald Trump said he plans to meet executives from American oil companies later this week to discuss boosting Venezuelan oil production.
