PSX extends winning streak as US election results fuel hopes of de-escalation in Middle East

Pakistan’s KSE-100 rose sharply at Thursday’s open, reaching 176,604.51 after gaining 4,591.02 points, or 2.67%, according to Profit by Pakistan Today. By 11:00 am, it had surrendered about half that advance and stood at 174,386.80, still up 2,373.32 points, or 1.38%, from the previous close.

The rally followed Wednesday’s 3,994.62-point rise, as lower oil prices and reduced geopolitical concerns encouraged buying across a range of PSX sectors. US election results lifted hopes of less conflict in the Middle East, while Brent crude fell below $100 a barrel and was down about 20% for the week. Global market responses varied, with US and European shares rising while several Asian technology-heavy markets declined.