PSX stays in the black on US-Iran talks

The Pakistan Stock Exchange finished Wednesday's session higher as the KSE-100 index gained 830.43 points, or 0.48 per cent, to close at 172,232.51, according to The Express Tribune. Traders welcomed reports that US-Iran talks could lead to a settlement at the UN General Assembly, easing worries over crude supply. Crude prices hovered near two-week lows as Gulf supply improved, with Brent around $98 per barrel and WTI below $90.

Buying spread across car makers, cement, lenders and energy firms, while KTrade Securities named fertiliser, banks and refineries as leaders. Among the main contributors were Fauji Fertiliser, UBL, Meezan Bank and Attock Refinery, while heavy volumes ran through Cnergyico, K-Electric, SSGC and Pakistan International Bulk Terminal. Refinery shares also drew attention after rumours that a refinery policy agreement might be signed on Thursday.

Ismail Iqbal Securities said fertiliser, banks and E&P sectors contributed 497 points to the benchmark. Total volume rose to 773.6 million shares from 641.8 million on Tuesday, with 262 of 496 traded companies closing higher, 196 lower and 38 unchanged. Cnergyico led by volume with 150.3 million shares and rose Rs1.11 to end at Rs14.31. Foreign investors sold Rs547.4 million worth of shares, according to the National Clearing Company.