The Pakistan Stock Exchange (PSX) experienced a notable performance as the benchmark index reached 116,090.5 during intraday trade.
According to the PSX website, the KSE-100 index gained 245.69 points to reach 116,090.5 levels at 12:18 pm.
“We think the market will continue to gain momentum hereon and would be uptrending. However, it would be led by flows mostly. Hence, we don’t see a big rally given the lack of triggers,” said Intermarket Securities in a Facebook post on Tuesday.
The firm added that the MPC on 27 January could be a “positive trigger” if it delivers a larger than 100bps rate cut.
Strong buying interest was noted across key sectors, including cement, fertilizer, oil and gas exploration, as well as in oil marketing companies and refineries.
Notable index-heavy stocks such as Pakistan Refinery Limited, Pakistan State Oil, Sui Northern Gas Pipelines Limited, Oil and Gas Development Company, Pakistan Petroleum Limited, and Engro Corporation all traded positively.
Stocks rallied at the PSX’s benchmark index on Monday, January 20, as the KSE-100 index gained over 900 points in the intraday update. According to the PSX website, the KSE-100 index gained 938 points to reach 116,210.41 levels at 1:08 pm.
On January 8, the KSE-100 Index saw a significant gain of over 1,400 points during the opening hours of trading. By 9:50 am, the index was at 117,501.73, reflecting an increase of 1,449.05 points, or 1.25%.
