PSX modestly higher over economic cues

Pakistan Stock Exchange (PSX) on Tuesday closed modestly higher as it took cue from robust financial results in key sectors. The KSE-100 index reached the high of 115,890 during the day, before settling at 114,528, an increase of 198 points. Bullish activity was driven by several factors including an anticipated reduction in industrial power tariffs, low inflation, the potential privatisation of state-owned enterprises (SOEs) and the upcoming International Monetary Fund (IMF) review. Analysts expressed optimism about the market's trajectory, predicting further upward movement based on current trends and anticipated developments. Ahsan Mehanti of Arif Habib Corp commented that stocks closed higher in an earnings season rally amid robust financials in fertiliser, cement, oil and banking sectors.