Buying spree lifts PSX over 1,000 points

Heavyweight stocks advance across banking, cement, automobiles and energy sectors, pushing the KSE-100 index higher

Pakistan equities traded firmly higher on Tuesday, with broad-based buying across heavyweight sectors pushing the benchmark KSE-100 index up by more than 1,200 points in intraday trade, extending the market's positive momentum.

At 1:24pm, the benchmark index stood at 179,488.55, up 1,073.76 points, or 0.60%. During the session, the index touched an intraday high of 180,116.89 and a low of 179,020.10.

Buying was witnessed in key sectors, including automobile assemblers, cement, commercial banks, oil marketing companies, oil and gas exploration companies, power generation and refineries. Index-heavy stocks traded in the green, supporting the market's upward momentum.

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Earlier in the session, the market opened on a positive note. At 9:34am, the KSE-100 index was at 179,524.96, up 1,110.17 points, or 0.62%, reflecting strong investor sentiment from the outset.

Trading activity also remained healthy, with 108.99 million shares changing hands by early afternoon as investors continued to accumulate equities. Trading is currently underway.

In a regional scene, Asian stocks surged at the end of a sparkling quarter on Tuesday, while a resurgent dollar pushed the yen to a four-decade low and was headed for a fourth straight quarterly rise.