PSX closing: KSE-100 index gains 381 points

WEB DESK: The Pakistan Stock Exchange (PSX) experienced a bullish trading session on Tuesday, with its key index, the KSE-100, climbing by 381 points and closing near the 66,000 mark.

The day commenced on a positive note for the KSE-100, maintaining a predominantly bullish trajectory throughout. It reached an intraday peak of 65,989.54 before the session concluded.

By the close of trading, the benchmark index stood at 65,906.28, marking a gain of 380.63 points, or 0.58 per cent.

Monday also saw notable upward movement, with the KSE-100 registering a gain of 373.82 points, largely driven by increased buying activity in oil and gas stocks, which hold significant weight in the index.

The 66,000-point threshold has posed a substantial resistance level in recent weeks.

In significant developments, the Oil and Gas Development Company Limited (OGDCL), Pakistan’s largest state-owned exploration and production (E&P) company, disclosed the discovery of hydrocarbon reserves at the Togh-02 well, situated in Kohat district, Khyber Pakhtunkhwa.

Additionally, the Board of Directors (BoD) of Pakistan International Airlines (PIA) endorsed the company’s privatisation and restructuring plan, a decision communicated to the PSX through an official notice.

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