Strong buying lifts KSE-100 Index by over 1,750 points in early trade

Buying momentum continued at the Pakistan Stock Exchange (PSX) on Tuesday, with the benchmark KSE-100 Index climbing more than 1,750 points in early trading. Buying was seen in automobile, cement, chemical, banking, fertiliser, pharma, tech, and OMC sectors. At 10:15am, the KSE-100 Index was hovering at 186,813.16, up by 1755.33 points or 0.95%. On Monday, the PSX witnessed volatile trading, as the KSE-100 swayed in both directions before closing the day higher by nearly 900 points. At close, the benchmark index settled at 185,057.83, up by 883.35 points or 0.48%. The stock market did not react negative to the news that US President Donald Trump had agreed on a trade deal with India that slashed US tariffs on Indian goods to 18% - 1% lower than Pakistan’s 19% - from previously 50% in exchange for New Delhi lowering trade barriers, stopping its purchases of Russian oil and buying oil instead from the US and potentially Venezuela.