Pakistan Stock Exchange: Index crosses 143,000 points
KARACHI (Web Desk) – The buying momentum at the Pakistan Stock Exchange (PSX) persisted as investor confidence remained high, pushing the benchmark KSE-100 Index above the 143,000 mark during Tuesday’s intraday trading.
The index stood at 143,253.15, gaining 1,200.51 points, equivalent to a 0.85% rise by 11:55am.
Major sectors such as automobile, banking, cement, fertiliser, and oil marketing companies showed strong performance, with key stocks like SNGPL, WAFI, INDU, MCB, MEBL, and UBL trading positively.
On Monday, the market also ended on a bullish note, supported by strong corporate developments, upbeat earnings forecasts, and consistent investor interest. The KSE-100 Index had advanced 1,017 points or 0.72%, closing at a record 142,052.65.
On the global front, Asian stock markets extended their gains for a second straight session, while the US dollar held steady following recent losses. Optimism grew over potential Federal Reserve policy support after weaker-than-expected US jobs data.
Wall Street closed higher on Monday, helped by solid corporate earnings and growing speculation of a Fed rate cut in September.
Meanwhile, oil prices stayed subdued amid rising output from OPEC+ and geopolitical tensions following US warnings to India over Russian oil imports. Japan’s Nikkei index rebounded, supported by strong July service sector data.
