Bullish sentiments persist on stock market

The stock market continued its northward journey on Tuesday as the benchmark KSE 100 index surpassed the 115,000 barrier in intraday trading but failed to sustain gains above this level on profit-taking. Topline Securities Ltd noted that the benchmark KSE 100 index rally was supported by local fund buying. It reached a high of 115,890 points before closing at 114,528 points, gaining 198 points or 0.17pc day-on-day. The rise was primarily driven by Bank Al-Habib, MCB Bank, OGDC, Maple Leaf Cement, and Mari Energies, contributing 296 points to the overall gain. In contrast, Fauji Fertiliser, Hub Power, and TRG contributed a loss of 146 points to the index. Ahsan Mehanti from Arif Habib Corporation said the market stayed bullish amid robust financials in fertiliser, cement, oil and banking scrips.