The Shanghai Cooperation Organization (SCO) conference and hopes for political stability have sparked investor interest in index-heavy equities, which is why markets ended higher on Wednesday during earnings season.
The benchmark KSE-100 Shares Index of the Pakistan Stock Exchange (PSX) increased by 365 points, or 0.43%, to end the day at 86,205 points. Earlier in the day, it had surged by a whopping 673 points to reach 86,513 points.
In the anticipation of potential fruitful diplomatic interactions, the two-day Council of Heads of Government (CHG) of the SCO conference began in Islamabad on Tuesday.
As the stock market keeps hitting new highs, optimistic investors are progressively buying high-valuation companies as the first quarter (1QFY2024) corporate earnings season gets underway.
