The record-breaking rally at the Pakistan Stock Exchange (PSX) continues. On Tuesday as well, during the early hours of trading, the KSE-100 Index recorded a gain of more than 700 points. By 11:00 a.m., the benchmark index had risen by 719.98 points, or 0.41 percent, to reach 174,616.32 points.
Strong buying interest was observed in key sectors, including automobile manufacturers, cement, commercial banks, fertilizers, oil and gas exploration companies, oil marketing companies, power generation, and refineries. Stocks such as SSGC, POL, PSO, PPL, OGDC, Mari, MEBL, MCB, SNGPL, and NBP were also seen trading in the positive zone.
It is worth noting that on Monday, the Pakistan Stock Exchange witnessed a strong bullish trend, with the benchmark KSE-100 Index closing at a historic high of 173,896 points for the first time in the country’s history, after gaining 1,496 points.
On the other hand, at the international level, Asian shares declined on Tuesday due to a sell-off in the technology sector on Wall Street (the US stock market). Meanwhile, gold and silver prices remained stable. This stability was observed after a sharp drop from their record highs, which somewhat cooled the extraordinary surge in their prices.
Additionally, on Tuesday, the MSCI’s broadest index of Asia-Pacific shares outside Japan fell by 0.1 percent; however, it was set for an annual gain of 26.7 percent, its best performance since 2017. Japan’s Nikkei index declined by 0.2 percent but posted a 26 percent increase on an annual basis. Taiwanese shares fell by 0.7 percent, while China’s blue-chip stocks declined by 0.3 percent.
