Circular Debt Hopes Lift Pakistan Stocks
The Pakistan Stock Exchange (PSX) continued its upward momentum on Tuesday, with the benchmark KSE-100 Index climbing beyond the 149,000 mark in early trading.
At around 10:10am, the index was recorded at 149,162.07 points, showing a gain of 965.65 points or 0.65% from the previous session.
Investors showed strong confidence in sectors such as automobile assemblers, commercial banks, cement and pharmaceuticals. Market giants including DGKC, HBL, MCB, MEBL and UBL traded positively, supporting the rally.
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Market observers said the renewed buying interest was largely linked to expectations of government reforms in circular debt, a long-running problem in the energy sector.
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They added that investors believed such measures could ease financial pressure on power companies and improve overall liquidity.
This surge followed Monday’s performance, when the benchmark index closed at 148,196.42 points after a strong rally.
Meanwhile, global markets painted a mixed picture. Asian stocks and oil prices declined ahead of a key central bankers’ gathering.
However, European futures posted gains after Ukrainian President Volodymyr Zelenskiy indicated progress on security arrangements following discussions with US President Donald Trump and European leaders.
