Pakistan Stock Exchange reaches 52,000, a level not seen in six years

The Pakistan Stock Exchange (PSX) witnessed a favorable trajectory, with the benchmark KSE-100 Index surging by 437 points during the trading session on Tuesday.

Early in the day, the benchmark index crossed the 52,000-point milestone, a level not seen in over six years, before experiencing some profit-taking.

At the close of the trading day, the KSE-100 settled at 51,920.27, marking a significant gain of 437.34 points or 0.85%.

Market experts observed that investors displayed optimism regarding improved corporate earnings, alongside the government’s decision to raise gas prices, which is anticipated to bolster the profitability of the energy sector.

A widespread positive sentiment was evident across various sectors, including automobile manufacturers, commercial banks, oil and gas exploration companies, oil marketing companies, refineries, and the technology and communication sectors, all of which witnessed favorable trading trends.

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