The Pakistan Stock Exchange (PSX) ended at a record level, the KSE-100 index ending the day at 120,450.87, marking its first fence above 120,000 points.
The market won 1,573.07 points or 1.32%, reaching an intra-day summit of 120,693.83 and a minimum of 119,129.51.
The negotiation volume amounted to 315,235,806 shares, with a total value of 20,897,236,653. The previous fence was 118,877.80.
The optimistic feeling record on the Pakistan budget this month.
Earlier Monday, the KSE-100 index experienced significant volatility, with an intra-day summit of 1,018 points and a minimum of 899 points, finally ending at 118,878, down 813 points (0.68%).
The decline was mainly attributed to the concerns of the tax increases proposed on banking and savings programs, additional oil withdrawals and the increase in inflation.
The consumer price index (IPC) increased by 3.5% in annual sliding in May due to the increase in food prices, the amortization of the feeling of the market.
Analysts, including Ahsan Mehanti of ARIF Habib Corp, noted that the lowering market was motivated by uncertainty before the budget of exercise 26, geopolitical tensions and fluctuations.
Topline Securities stressed that the sale pressure came from concerns about a potential tax increase of 2 to 3% on passive income. While some actions like Pakgen Power, National Foods, Meezan Bank and National Bank of Pakistan supported the index, actions like Systems Limited, Engro Holdings and Pakistan Petroleum have alesté.
The volume of exchanges decreased to 497.9 million shares, compared to 580.3 million the day before. The market has experienced mixed performance, with 29 increasing shares, 71 down and 464 companies have negotiated overall. Dewan Cement was the volume leader, while foreign investors sold actions worth 1.97 billion rupees.
Analysts are cautious, which suggests that the market can face continuous short -term pressure, but it could present an opportunity to buy in certain sectors such as cement, automobile and fertilizer.
