Following a drop in the inflation rate to its lowest level in 24 months at 6.9% and a decrease in petroleum prices, the expectations of a major reduction in interest rates led to a major surge in the Pakistan Stock Exchange (PSX) on Tuesday after four consecutive days of decline.
As a result of the bullish trend, the prices of 56% of shares increased, and the total value of shares rose by over Rs92.77 billion.
The market remained in positive territory throughout the trading session due to the halt of share offloading by foreigners and increased buying activity in the cement, power generation, and fertilizer sectors.
At one point, the market surged by 866 points, but profit-taking at intervals led to a decrease in this surge. Consequently, at the end of the trading session, the KSE 100 Index closed up by 690.39 points at 81,804.59 points.
Similarly, the KSE 30 Index rose by 235.33 points to close at 26,011.31 points, the KSE All Share Index increased by 452.33 points to close at 52,266.56 points, and the KMI 30 Index ended up by 2,050.33 points at 126,801.49 points.
The trading volume was 20.49% higher compared to Monday, with a total of 359,081,585 shares traded. The scope of trading was limited to the shares of 436 companies, with 243 seeing an increase in prices, 139 experiencing a decrease, and 54 remaining stable.
