PSX: KSE-100 accumulates nearly 4,000 points as investors bet on US midterms, Iran talks

The KSE-100 finished Wednesday at 172,013.48, adding 3,994.62 points, or 2.38%, according to Business Recorder. It crossed 170,000 during the session and later came close to its intraday peak of 172,286.99. The advance followed institutional buying, with mutual funds identified as a key source of demand.

Arif Habib Limited research head Sana Tawfik told the publication that stable oil prices near $103 also supported sentiment. Market participants were weighing developments around the US midterm elections and a US draft proposal for talks with Iran, while expectations of less regional tension and softer oil prices were cited as supportive factors. The sharp local advance contrasted with declines in US futures and several Asian equity markets.