Strong buying continued at the Pakistan Stock Exchange on Tuesday, and in the early minutes of trading the benchmark KSE 100 Index jumped by more than 1,300 points.
According to reports, the KSE 100 Index rose by 1,376.19 points, or 0.75 percent, to reach 183,784.42 points. Heavy buying was seen in automobile assemblers, cement, commercial banks, fertilizer, oil and gas exploration companies, oil marketing companies, power generation firms, and the refinery sector. Shares of ARL, Hubco, Mari, POL, PSO, SNGPL, SSGC, HBL, MCB, Maple, NBP, and UBL were also trading in positive territory.
It is worth noting that on Monday the benchmark KSE 100 Index closed at a record 182,408.24 points after gaining 3,373.31 points, or 1.88 percent, the first time in the country’s history it crossed that level.
On the global front, Asian stock markets continued their move toward record levels on Tuesday, extending Wall Street’s rally.
The MSCI Asia Pacific broad index rose 0.4 percent to a new all time high, mainly driven by strong gains in Japanese stocks. Japan’s Topix Index climbed 1.3 percent to a fresh record close.
Hong Kong’s Hang Seng Index rose 0.7 percent, mainland China’s blue chip shares gained 0.3 percent, and Australia’s benchmark stock index added 1 percent. In contrast, South Korea’s Kospi Index fell 0.4 percent after hitting a record high on Monday.
US S and P 500 futures rose 0.1 percent, while in the cash market the index had gained 0.6 percent overnight. Shares of Chevron jumped more than 5 percent.
