The stock market witnessed a bullish trend on Tuesday at the start of the trading session, as the KSE-100 index surged by 285 points, reaching a new high of 78,516 points.
This positive movement marks a significant uptick in investor confidence and market activity.
Analysts attribute this rise to increasing investor interest in innovative and high-growth potential startups. The overall market sentiment has been buoyed by strong performances in technology and consumer goods sectors, which have shown remarkable resilience and growth potential.
On the other hand, the Pakistani Rupee appreciated by 11 paisas in the interbank trading on Tuesday. The American currency reached Rs278.50 paisas in interbank trading.
Earlier, the Senate Standing Committee on Finance raised serious concerns about the proposed tax measures in the budget for the next fiscal year, warning that they will fuel inflation in the country and increase malnutrition.
On Monday, the PSX experienced significant fluctuations, with the KSE-100 index swinging from positive to negative territory. Despite an initial surge, the market faced a downturn a short while later.
At the start of the trading day, the KSE-100 index showed a promising increase of 383 points, reaching a peak of 79,194 points. This rise restored the 79,000-point threshold, indicating a booming trend in business startups and investor confidence.
