PSX: KSE-100 settles above 168,000 amid optimism over US-Iran talks

The KSE-100 rose 1,454.80 points, or 0.87%, to finish Tuesday at 168,018.86, above the 168,000 mark, Business Recorder reported. The index reached 168,469.78 during the session before slipping to 167,308.65 as some investors booked profits, then recovered part of the decline in late trading.

Topline Securities attributed the advance mainly to lower global crude prices and hopes for progress in US-Iran negotiations, which it said improved risk appetite. FFC, ENGROH, PSEL, MEBL and EFERT together contributed about 701 points, while the all-share trading value increased to Rs20.70 billion from Rs17.73 billion in the previous session. Analysts also noted that the market’s October correction had brought selective buying back into heavyweight shares, while warning that sentiment remained sensitive to developments in the talks and oil prices.