Strong interest from investors helped extend the bullish spell at the Pakistan Stock Exchange on Tuesday. Subsequently the KSE-100 index soared 616 points as political noise in the country eased.
Encouraging corporate results, coupled with stocks falling to attractive valuations, lent further support to the uptrend.
Moreover, the Financial Action Task Force’s (FATF) plenary session is scheduled to be held on October 21-23 where Pakistan expects to get relief from the Enhanced Follow-up List. The projection bolstered positive mood at the bourse and fuelled a buying spree.
Almost all index-heavy sectors including automobile, cement, financial and oil closed with substantial gains.
Earlier, trading began on a positive note and the KSE-100 index climbed steadily throughout the day. The advance accelerated towards the end of trading.
At close, the benchmark KSE-100 index recorded an increase of 616.41 points, or 1.53%, to settle at 40,956.58 points.