Stocks surge past 113,000 on active buying

Amid relative political calm and strong economic data, the stock market extended its overnight recovery drive as investors remained busy picking shares at attractive valuations, tossing the benchmark KSE 100 index above 113,000 on Tuesday. Topline Securities Ltd said bulls tightened their grip as the Pakistan Stock Exchange (PSX) witnessed strong upward momentum, hitting an intraday high of 1,855 points before closing at 113,010—up by 1,632 points or 1.47 per cent day-on-day. It attributed this positive trend to the fading selling pressure from local institutions, as indicated by the National Clearing Company of Pakistan (NCCPL) data released on Monday, which allowed the market to sustain its gains. Additionally, better-than-expected corporate earnings bolstered investor confidence, driving fresh buying across key sectors.