Value hunters help PSX close in green
KARACHI: The Pakistan Stock Exchange (PSX) eked out gains for the second consecutive session on Tuesday, though investor sentiment remained volatile amid geopolitical and economic uncertainty, as surging diesel and petrol prices increased business costs and fuelled inflationary pressures. Topline Securities Ltd said the KSE-100 index closed at 171,402.08 points, up 248.92 points, or 0.15 per…
The Pakistan Stock Exchange (PSX) experienced a modest gain on Tuesday, closing at 171,402.08 points, up 0.15 percent. The KSE-100 index reached an intraday high of 171,680.74 points and a low of 170,866.94. Value hunters played a significant role in supporting the index, as easing international oil prices and potential de-escalation between the US and Iran helped alleviate concerns about inflation and the country's external account.
Major contributors to the index's rise included Mari Energies, Pakistan Petroleum, Hub Power, Fauji Cement Company Ltd, and Lucky Cement. However, the market remained cautious due to ongoing geopolitical uncertainty, with Bank Al-Habib, Fauji Fertiliser, and MCB Bank acting as the main drags.
Brief written by urgent.news from Dawn Business's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
