The Pakistan Stock Exchange (PSX) saw a bullish trend on Tuesday, with the KSE-100 index gaining over 600 points during intraday trade. At 1:42pm, the index stood at 63,662.06, marking a gain of 659.15 points or 1.05% from the previous close of 63,002.91. The bullish momentum was attributed to reports about the energy sector’s circular debt and pre-election buying. It is reported that the caretaker government has begun negotiating with the International Monetary Fund (IMF) on proposals for the settlement of circular debt. Experts anticipate a rally in the oil and gas sector due to the resolution of the circular debt issue, but caution investors to expect a potential short correction before the upcoming elections. The outlook on the PSX remains bullish in the long term, with expectations of resolution of circular debt and the likelihood of continuation of electricity at a subsidised rate for industries. Additionally, the increase in gas prices for Sui Southern Gas Company Limited (SSGCL) and Sui Northern Gas Pipelines Limited (SNGPL) by the Oil and Gas Regulatory Authority (Ogra) resulted in positive momentum.