The Pakistan Stock Exchange (PSX) saw a bullish trend on Wednesday, with the benchmark KSE-100 Index lingering around the 44,000 level.
At 11:10 a.m., the benchmark index was near 43,960, up 403 points or 0.92%.
Automobile assemblers, cement, chemicals, commercial banks, fertilizers, oil and gas exploration businesses, and OMCs saw buying.
According to experts, many variables are causing optimistic feelings among investors, which is reflected in the bullish trend.
“The disbursement of funds by the Central Power Purchasing Authority (CPPA) to Independent Power Plants (IPPS) is positively weighing on the power sector,” Sana Tawfik, an analyst at Arif Habib Limited (AHL), said.
According to reports, the CPPA has distributed Rs142 billion among IPPs in order to reduce the stock of circular debt.
Following a recently signed staff-level agreement for a $3 billion Stand-By Arrangement (SBA), the move is in keeping with the IMF’s recommendation of reforms and progress in the energy sector.
