PSX surges 1,345 points on robust earnings

Pakistan Stock Exchange (PSX) on Tuesday closed on a highly bullish note as increased investor interest in lucrative stocks propelled the benchmark KSE-100 index higher by 1,345 points. Investor optimism was driven by several factors, including the approval of $40 billion in investment under the country partnership framework by the World Bank, rising global crude oil prices, robust textile exports and solid earnings in fertiliser, cement and banking sectors. Expectations of further policy easing by the State Bank of Pakistan (SBP) and improved market liquidity also contributed to the positive momentum. The index experienced wide fluctuations, reaching the high of 113,253 points before dipping to the intra-day low of 111,642. It settled at 113,088. Ahsan Mehanti of Arif Habib Corp commented that stocks closed bullish as investors speculated about the World Bank and International Monetary Fund (IMF), after the World Bank approved $40 billion in investment under the country partnership framework.