PSX extends rally amid positive sentiment, momentum
The bourse continued its upward trajectory on Wednesday, extending gains as investors responded to improving sentiment and technical triggers.
The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index climbed to an intraday high of 121,639.04, gaining 1,188.17 points, or 0.99%. The session’s low was recorded at 120,896.13, reflecting a gain of 445.26 points, or 0.37%.
“Payment of the circular debt coupled with rumours of reduction on various taxation and encouraging offtake numbers from cement and fertilisers have led to a broad-based rally,” said Ahfaz Mustafa, CEO of Ismail Iqbal Securities.
“Also making new highs has triggered an upside on a technical basis,” he added.
In the previous session on Tuesday, the KSE-100 Index surged by 1,573.07 points, or 1.32%, to close at an all-time high of 120,450.87 points. The index hit a high of 120,693.83 and a low of 119,129.52 during the session.
This is a developing story and is being updated with more details.
