The Pakistan Stock Exchange (PSX) staged a rebound on Tuesday and resumed its upward trend owing to general optimism on the back of a host of positive triggers. As a result, the KSE-100 index gained 317 points and closed near the 46,000-point mark.
Earlier, trading began on a positive note and the KSE-100 index remained on the upward trajectory throughout the session. A buying spree, emerging in final hours, elevated the gains. At close, the benchmark KSE-100 index recorded an increase of 316.62 points, or 0.69%, to settle at 45,922.04 points.
Though the day began on a slow and cautious note after Monday’s profit-booking, a bounce-back in the banking sector as well as absence of selling in the exploration and production sector helped the index stabilise near 46,000 points. K-Electric recorded large trading volumes in anticipation of a deal after the resumption of IMF loan programme, as highlighted by State Bank of Pakistan Governor Reza Baqir on Monday.