PSX jumps 5,449 points in spectacular rally

The KSE-100 climbed 3.13% to 179,335.24 on Tuesday, gaining 5,448.56 points as trading resumed after Monday’s Iqbal Day holiday. The Express Tribune reported that the index stayed higher throughout the session and reached 179,424.04 at its peak.

Investor interest strengthened alongside robust remittance inflows and lower international oil prices, which eased concerns about imported energy costs. WTI crude slipped below $87 a barrel, while Brent dropped to $96 from $102 in the previous session, a decline of more than 8%, according to a market participant cited by the newspaper.

UBL, Lucky Cement, Meezan Bank, Systems, Bank AL Habib, HBL, Hub Power, OGDC, PPL and FFC were among the contributors, with two brokerages attributing about 1,981 to 1,982 index points to leading stocks. Trading value reached Rs50.7 billion on 972.4 million shares, while Cnergyico led volumes and fell Rs0.75 to Rs11.35.