PSX: KSE-100 up over 1% on buying in key sectors

The KSE-100 was at 168,355.31 by 10:50am on Tuesday, a rise of 1,791.25 points, or 1.08%, according to Business Recorder. The gain came as investors bought shares across several major sectors, including banks, oil and gas exploration, power, cement and automobile companies.

Analyst Saad Hanif told Business Recorder that renewed diplomatic activity around the Middle East had helped ease oil prices, a factor relevant to Pakistan’s import bill, current account and inflation. He also cited a market correction in October and renewed interest in major stocks, while warning that sentiment remains sensitive to developments and oil-price movements. HUBCO, MARI, OGDC, PPL, POL, PSO, SSGC, HBL, MCB, MEBL and NBP were among the shares trading higher. The update is intraday, following Monday’s 0.09% increase in the index.