Investor Optimism Lifts Pakistan Stocks to Record Levels
The Pakistan Stock Exchange (PSX) continued its upward momentum on Tuesday, with the benchmark KSE-100 Index gaining more than 900 points in early trade. At 10:55am, the index stood at 147,845.28, marking an increase of 915.44 points, or 0.62%.
Strong buying was seen in sectors such as automobile manufacturing, commercial banking, oil and gas exploration, and oil marketing companies. Major contributors to the rally included index-heavy stocks like MARI, POL, PSO, SSGC, SNGPL, HBL, MCB, MEBL, and UBL, all of which traded in positive territory.
Market analysts linked the optimism to robust corporate earnings and reports of planned US investments in Pakistan’s energy sector.
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Finance Minister Muhammad Aurangzeb, after returning from the United States, told reporters informally that Pakistan could soon expect substantial investments from the US in multiple sectors.
He described recent trade discussions with US officials as highly successful, adding that the country was moving in the right direction and results would be evident soon.
The rally followed Monday’s session, when the KSE-100 Index surged 1,547.05 points, or 1.06%, to close at 146,929.84.
