KSE-100 surges over 2,500 points to cross 170,000 mark

The KSE-100 climbed above 170,000 on Wednesday, reaching 170,585.81 by 1:19pm, up 2,566.95 points, or 1.53%, from the previous close of 168,018.86. The index had started the session higher and later touched 170,695.39, according to The Express Tribune.

The report linked the rally to investor hopes that the US midterm election result could lead to a different Washington approach to the war with Iran and encourage diplomacy. Democrats won control of both congressional chambers, while oil prices also recovered: Brent rose 0.7% to $104.36 a barrel and US West Texas Intermediate gained 0.7% to $96.72, amid concerns about supply and the Strait of Hormuz.