Bullish sentiments persist, KSE-100 gains nearly 1,800 points in early trade

Bullish momentum continued at the Pakistan Stock Exchange (PSX) amid improved investor sentiments, with the benchmark KSE-100 Index gaining nearly 1,800 points during the opening minutes of trading on Tuesday. At 10:20am, the benchmark index was hovering at 168,015.96, an increase of 1,773.06 points or 1.07%. Buying interest was observed in key sectors including automobile assemblers, commercial banks, fertiliser, oil and gas exploration companies, OMCs, power generation and refinery. Index-heavy stocks, including ARL, HUBCO, MARI, OGDC, POL, PPL, PSO, MCB and NBP, traded in the green. Analysts attributed the positivity to reduced geopolitical noise and improved macroeconomic indicators. Pakistan’s current account (C/A) posted a significant surplus of $110 million in September, a sharp contrast against $52 million deficit recorded in the same month last fiscal, data released on Monday by the State Bank of Pakistan (SBP) showed.