Pakistan Stock Exchange adds more value to shares

Pakistan Stock Exchange (PSX) maintained its positive momentum on Tuesday amid strong indicators like ceasefire with India, release of International Monetary Fund (IMF) tranche, reported 24NewsHD TV channel.

At the end of the trading, the PSX’s benchmark KSE-100 gained 1,278.15 points or 1.08 percent to reach 118,575.88 points.

Brokers believe the PSX may set a new all-time high if the current momentum persisted, marking another landmark in the exchange's performance.

Earlier on Monday, during the opening session on the first day of the week, the stock market initially climbed to 117,104.11 points - a gain of staggering 9,928 points - as investors seemed confident following the positive developments on political and economic fronts.

Later, the KSE-100 index traded at 9,475.49 points to hit 116,650.12 points with a positive change of 8.84 percent, forcing the suspension of the market for one hour.

Resumption of trading further improved the situation and the index eventually closed at 117,297 after spike of 10,123 points.

Experts attributed the historic surge to a powerful convergence of positive developments, with the most significant catalyst being the ceasefire agreement between India and Pakistan.

The announcement of the ceasefire came after weeks of tension following the Pahalgam attack, which had triggered aggressive selloffs and fueled widespread investor concerns.

Reporter: Kawish Memon