As investors reacted to technical cues and increasing sentiment, the market extended gains on Wednesday, continuing its upward trend.
The benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) ended the day at 121,798.86 points, up 1,347.99 points, or 1.12%, from its closing value of 120,450.87.
Throughout the session, the index gained 1,431.60 points, or 1.19%, and reached an intraday high of 121,882.47. The low for the session was 120,896.13, which represents a gain of 445.26 points, or 0.37%.
“A wide-ranging rally has resulted from the payment of the circular debt, rumors of tax reductions on various levels, and encouraging cement and fertilizer offtake numbers,” stated Ahfaz Mustafa, CEO of Ismail Iqbal Securities.
