PSX extends winning streak, up 1,429 points

The KSE-100 rose 1,428.73 points, or 0.88%, to 164,467.20 on Tuesday, extending its advance for another session, The Express Tribune reported. It traded between 163,545.70 and 164,787.67, staying above its previous close throughout the day. Buying across banks, cement, fertiliser and automobile shares helped support the benchmark.

The report said investors appeared to look beyond the SBP’s policy-rate increase to 12%, with softer global oil prices and hopes for diplomatic progress in the US-Iran conflict also supporting sentiment. MCB Bank, UBL, Pakistan Petroleum and NBP were among the contributors. Trading reached 402 million shares, against 376 million on Monday, while turnover was Rs18 billion. Brent crude was around $115-116 a barrel, and the article noted continuing concerns over inflation and geopolitical uncertainty.