Equities extend rally on peace optimism

The KSE-100 rose 1,428.73 points, or 0.88 per cent, to 164,467.20 on Tuesday, extending its recovery and moving back above 164,000. Dawn reported that buying spread across sectors including cement, automobiles and banking, while market participants treated the State Bank of Pakistan’s 50bps rate increase to 12pc as less severe than some had expected.

MCB Bank, United Bank, Fauji Fertiliser, Pakistan Petroleum and National Bank contributed about 490 points to the index’s advance. Cnergyico PK was among stocks in focus alongside companies reporting earnings or improved profitability. Trading volume increased 6.90pc to 402m shares and traded value rose 11.59pc to Rs18.06bn; diplomatic talks on the US-Iran conflict also supported sentiment, although Dawn noted continued uncertainty over tensions and oil prices.