Share prices surge at PSX after Field Marshal’s assurance to traders

The Pakistan Stock Exchange (PSX) rose on Tuesday as investor sentiment was buoyed by high-level assurances of economic stability and expectations of a further cut in interest rate, reported 24NewsHD TV channel.

At the close of business for the day, the PSX’s benchmark KSE-100 Index climbed to 139,419.61 points, gaining 1,202.03 points or 0.86 percent.

Economic analysts said that the market gained positive momentum after Field Marshal Asim Munir assured the military’s full support to the business community.

They opined that the SBP policy rate may be easing in the announcement due next week and expectations over strong financial results and annual payouts played catalyst role in bullish activity at PSX.

A delegation of leading business figures led by former caretaker federal minister Gohar Ejaz met Field Marshal Asim Munir yesterday to discuss the country’s economic outlook and ongoing reforms. 

Gohar Ejaz said the group briefed the military leadership on the improving macroeconomic landscape and reaffirmed the business community’s support for the government’s reform agenda. He emphasized the need for rate cuts and responsive budget adjustments to support business-led growth.

Earlier on Monday, the KSE-100 Index had declined by 379.78 points, or 0.27%, to 138,217.58 points.

Overall trading volumes decreased slightly to 608.2 million shares compared with Friday's tally of 609.4 million. Traded value stood at Rs23.5 billion. Shares of 479 companies were traded. Of these, 193 stocks closed higher, 245 fell and 41 remained unchanged.

Reporter: Kawish Memon