The benchmark KSE-100 Index surged by 988.75 points, or 0.60%, closing at 166,482.33 points. Robust buying was observed in automobile assemblers, commercial banks, fertilizer companies, oil and gas exploration firms, OMCs, and power generation stocks. Major gainers included HUBCO, Mari, OGDC, PPL, POL, PSO, WAPDA Finance, MCB, NBP, and UBL, all trading in the positive zone.
Analysts expect the current bullish momentum to continue.
Meanwhile, official sources revealed that the International Monetary Fund (IMF) on Tuesday pressed for progress in making the National Finance Commission (NFC) process more effective, as it remains a key hurdle in resource distribution between the federal government and provinces.
Technical talks between the Ministry of Finance and the IMF mission are ongoing under the Extended Fund Facility (EFF), covering the second review of the $7 billion program as well as the first review of the Resilience and Sustainability Facility (RSF).
It is noteworthy that on Tuesday, the KSE-100 Index had already jumped by 1,645.90 points, or 1%, closing at an all-time high of 165,493.59 points.
