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KARACHI: The Pakistan Stock Exchange (PSX) extended its recovery rally on Tuesday, with the benchmark KSE-100 index surging more than 3,350 points to reclaim the 180,000 level for the first time since February, as investors snapped up blue-chip stocks amid improving global sentiment and easing concerns over regional tensions.
The market’s upbeat performance followed the State Bank of Pakistan’s decision to keep its policy rate unchanged at 11.5 per cent despite persistent inflationary pressures. Investor confidence was further strengthened by declining international oil prices and reports of a peace memorandum signed by the US and Iran, which raised hopes of reduced geopolitical risks and an improved economic outlook.
The KSE-100 index remained firmly in positive territory throughout the session. It touched an intraday high of 3,463 points before closing at 180,393, up 3,353 points, or 1.89pc, from the previous session.
Analysts said falling crude oil prices continued to bolster expectations of lower inflation and an improved external account position, encouraging investors to increase exposure to equities. Market participants also viewed the easing of regional tensions as supportive of economic stability and investor confidence.
