Tuesday saw the capital market continue to improve as investor confidence grew in the face of rising corporate earnings and falling inflation.
After previous losses, market participants reacted favorably to favorable stock valuations, and a recovery in energy equities suggested that value buyers were making a comeback to the market.
The optimistic feeling was also influenced by expectations that the State Bank of Pakistan (SBP) would decrease interest rates again.
Building on Monday’s advances, the benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) jumped 1,632.42 points, or 1.47%, to close at 113,010.38.
The market showed significant purchasing momentum across several sectors, reaching an intraday high of 113,233.40 and the session’s low of 111,834.20.
Strong earnings forecasts and appealing stock prices were cited by market analysts as reasons for the rally.
