Bullish sentiment prevailed at the Pakistan Stock Exchange (PSX) on Tuesday, with the KSE-100 Index gaining 437 points. The benchmark index had earlier crossed the 52,000 level for the first time in over six years before experiencing some profit-taking.
By the end of the trading session, the KSE-100 settled at 51,920.27, marking a 0.85% increase. Brokerage house Arif Habib Limited noted that the index had reached the 52,000 level for the first time since May 30, 2017.
Investors were optimistic about improved corporate profitability and the government’s decision to raise gas tariffs, which is expected to enhance the profitability of the energy sector.
This positivity led to widespread buying in various sectors, including automobile assemblers, commercial banks, oil and gas exploration companies, OMCs, refineries, and technology and communication sectors.
