Bulls dominate PSX as KSE-100 Index rises by 1,632 points

Karachi: The Pakistan Stock Exchange (PSX) saw a strong performance on Tuesday, with the KSE-100 index jumping by 1,632 points. The index closed at 113,010.38 points, up from 111,377.97 points the previous day, marking a 1.47% increase.

Analysts from Topline Securities linked this positive trend to a reduction in selling pressure from local institutions, allowing the market to maintain its gains. Better-than-expected corporate earnings also helped boost investor confidence, leading to fresh buying in key sectors.

The rise in the index was largely driven by strong performances from companies like ENGROH, PPL, FFC, OGDC, and MARI, which together contributed 851 points to the index.

A total of 486.93 million shares were traded, up from 415.16 million shares the previous day. The value of the traded shares also increased to Rs 30.38 billion, compared to Rs 23.95 billion on the last trading day. Out of 447 companies that traded, 264 recorded gains, 117 saw losses, and 66 remained unchanged.