Overview
- The KSE-100 index jumped 5,448.56 points on Tuesday and closed at 179,335.24 after reaching an intraday high of 179,424.04 and a low of 176,273.72.
- Market internals showed heavy breadth with 363 advancers and 107 decliners, traded value rose to about Rs50.66–50.7 billion, and foreign investors were net buyers to the tune of Rs1.68 billion.
- Large-cap banks, energy and industrial names such as UBL, Lucky Cement, Meezan Bank, Engro, OGDC and PPL were the biggest contributors and together added roughly 1,981 points to the index.
- Analysts pointed to a retreat in international oil prices, stronger October remittances and improved global risk appetite after US political developments as the main drivers lifting sentiment.
- Brokers expect the market to consolidate in the 176,000–180,000 range and warn that the US CPI release and an upcoming MSCI review could prompt profit-taking or a shift in direction.