The Pakistan Stock Exchange (PSX) opened Tuesday on a bullish note, with the benchmark KSE-100 index rising more than 600 points in early trading. By 9:40am, the index stood at 156,732.92, up 645.62 points or 0.41%.
Buying was strong in cement, banking, oil and gas, refineries, and power sectors. Blue-chip stocks, including HUBCO, ARL, MARI, OGDC, POL, PPL, PSO, MEBL, NBP, and UBL, traded in the green.
Investor confidence was further boosted by a $500 million memorandum of understanding (MoU) signed between US Strategic Metals (USSM) and Pakistan’s Frontier Works Organisation (FWO) to enhance cooperation in critical minerals.
The signing, witnessed at the Prime Minister House, signalled stronger economic and strategic ties between Islamabad and Washington.
Read More: Trump Team Seeks High Court Support for Funding Freeze
Remittances also supported market sentiment, with overseas inflows reaching $3.1 billion in August, according to the State Bank of Pakistan. The inflows added stability to Pakistan’s external account, reassuring investors of improved liquidity.
The surge followed Monday’s session, when the PSX climbed 1,810 points to close at a record high of 156,087.31.
Internationally, Asian markets also traded higher as expectations grew for a US Federal Reserve rate cut. The Nasdaq hit a record close, while S&P 500 futures extended modest gains.
