On Tuesday, the Pakistan Stock Exchange (PSX) experienced a significant rebound after four consecutive bearish sessions. The benchmark KSE-100 index surged by 757 points, closing at 112,744. This recovery was primarily driven by a decade-low inflation rate of 1.5% in February and expectations of robust earnings from major companies in the banking, fertilizer, and oil sectors.
Investor confidence was further bolstered by government discussions on the privatization of state-owned enterprises. Key contributors to the market’s rise included United Bank Limited, Mari Petroleum, Fauji Fertilizer Company, The Searle Company, and Hub Power, collectively adding 400 points to the index.
Trading volumes slightly decreased to 206.9 million shares from the previous day’s 208.9 million. The pharmaceutical sector also attracted strong investor interest, with companies like Searle, BF Biosciences, and Citi Pharma closing higher than their previous day’s levels.
Analysts anticipate that the market will continue its upward trend for the remainder of the week, potentially reaching the 115,000 mark.
