F.P. Report
KARACHI: The stock market extended its bullish trend on Tuesday with benchmark index touching fresh high as recent $500 million mineral investment deal with US and rising remittances have boosted investor confidence.
During intraday trading, the KSE-100 index has gained 763.25 points to climb to all-time high of 156,850.55 compared to previous close of 156,087.30.
The strong start suggests improved sentiment across key sectors, although analysts remain watchful of macroeconomic signals and global market cues.
A day earlier, Pakistan signed a Memorandum of Understanding (MoU) with US Strategic Metals (USSM), an American company specialising in critical minerals, for an initial investment of $500 million in the country’s mineral sector.
The agreement was signed with the Frontier Works Organisation (FWO) at a ceremony held at the Prime Minister House.
Prime Minister Shehbaz Sharif and senior officials were present, while Chief of Army Staff (COAS) Field Marshal Asim Munir also attended the signing, highlighting the importance Islamabad attaches to the partnership. The US Embassy said the agreement would help accelerate Pakistan’s mineral exploration and development drive.
