PSX gains 1,269 points as buying momentum defies regional tensions

Profit by Pakistan Today reported that the KSE-100 rose 1,269.55 points, or 0.77%, on Wednesday to finish at 165,736.75. The index first faced selling, then recovered in the afternoon as investors looked past heightened regional tensions. It was the benchmark’s second straight session of gains.

Tuesday’s advance was 1,428.73 points, leaving the index at 164,467.20, with lower international crude prices and buying across key sectors supporting the move despite the SBP’s 50-basis-point policy-rate increase. Global markets were mixed on Wednesday, while Brent crude climbed 1.2% to $115.24 a barrel and WTI rose 1.6% to $101.52. Oil advanced amid concern over possible supply disruption after Yemen’s Houthi movement claimed a missile strike on Saudi Arabia’s largest refinery.