Pakistan Stock Exchange Hits 52,000 After Six-Year Break

The Pakistan Stock Exchange (PSX) witnessed positive developments as the KSE-100 index gained 437 points in Tuesday's trading session. Earlier in the day, the index breached the 52,000 barrier, a level not reached in more than six years, but later suffered some profit-taking. At the closing bell, the KSE-100 settled at 51,920.27, a significant gain of 437.34 points or 0.85%.

Market analysts attributed the optimism to expectations of improved corporate profits and the government's decision to hike gas prices, which is expected to boost profits in the energy sector. The positive sentiment spread across sectors including automobile manufacturers, commercial banks, oil and gas exploration companies, oil marketing companies, refineries, as well as technology and communication sectors, all of which showed favorable trading trends.