PSX surges over 2,200 points, crosses 170,000 as investors weigh US election results, Iran war

The KSE-100 rose above 170,000 in early trading on Wednesday, gaining more than 2,200 points, Profit by Pakistan Today reported. It later gave up part of that advance: at 11:50 am, the index stood at 169,973.77, up 1,954.91 points, or 1.16%, from the previous close.

Investors were assessing the US midterm election outcome and developments in the Iran war, while the previous session’s advance had followed softer international oil prices and hopes of US-Iran talks. Buying was seen across several sectors, including automobiles, cement, banks, fertilisers, oil and gas, power and refineries.

The report also noted declines in US and European stock futures and Asian AI-related shares after the election results. Brent crude was up 0.8% at $104.42 a barrel, while US WTI gained 0.5% to $96.59.