PSX stays in the green, gains 830 points on US-Iran talks

The Express Tribune reported that the Pakistan Stock Exchange ended Wednesday higher, with the KSE-100 gaining 830.43 points, or 0.48 per cent, to finish at 172,232.51. The index stayed above the previous session's close for the entire day. Traders reacted to signs of progress in US-Iran talks and cheaper crude, which eased concerns about supply disruption.

The session's peak reached 172,762.41, while the low was 171,843.51. Expectations that the talks might lead to a diplomatic settlement lifted sentiment, as did hopes of fewer threats to global crude flows. Oil hovered near its weakest level in over two weeks, yet a record jump in diesel refining margins, tied to possible curbs on US diesel exports, partly offset that pressure.

Advances were broad, reaching carmakers, cement producers, lenders, upstream oil and gas firms, fuel marketers and refiners. Ismail Iqbal Securities said fertiliser, bank and E&P stocks contributed most, cumulatively adding 497 points to the index. Trading volume rose to 773.5 million shares from 641.8 million a day earlier, and Cnergyico PK was the most traded stock, with 150.3 million shares changing hands; it added Rs1.11 to end at Rs14.31.