Equities open strong, KSE-100 surges over 700 points in early trade

The Pakistan Stock Exchange (PSX) kicked off trading on a positive note on Tuesday, with the benchmark KSE-100 Index gaining over 700 points during the opening minutes of trading. At 9:35am, the benchmark index was at 158,318.81, an increase of 764.15 points or 0.49%. Buying was observed in key sectors, including automobile, cement, commercial banks, oil and gas exploration, OMCs, and power generation. Index-heavy stocks, including HUBCO, MARI, OGDC, POL, PPL, PSO, MCB, MEBL, and UBL, traded in the green. Pakistan has requested unilateral tariff concessions from China on approximately 700 items as part of the third phase of the China-Pakistan Free Trade Agreement (CPFTA), currently under negotiation. According to the Ministry of Commerce, Pakistan’s exports to China have increased following the second phase of the CPFTA. However, Pakistan’s preferential market access has eroded due to China’s FTAs with other trading partners. On Monday, the PSX ended on a bearish note as investors opted for profit-taking after last week’s robust rally, dragging the index down. The benchmark KSE-100 index fell 482.71 points, or 0.31%, to close at 157,554.66 points