Stocks gain on improving investor confidence
The Pakistan Stock Exchange (PSX) extended its rally on Wednesday, mirroring global market trends and buoyed by easing geopolitical tensions and a sharp uptick in consumer confidence. Ali Najib, Deputy Head of Trading at Arif Habib Ltd, said the market remained largely range-bound after Tuesday’s historic second-highest single-day gain. The KSE-100 index moved between an intraday high of 123,257 points (up 0.83pc) and a low of 122,169 points (down 0.06pc), eventually closing at 122,762 — up 515 points or 0.42pc. Bullish momentum continued as investor confidence improved, driven by expectations of economic recovery and favourable macroeconomic signals. A significant boost came from the Pakistan Consumer Confidence Index (CCI), compiled jointly by Dun & Bradstreet and Gallup Pakistan, which rose 9.2pc quarter-on-quarter and 24.6pc year-on-year to reach 96.2 points, indicating improved household outlooks.