PSX: stocks surge, KSE-100 up nearly 3,300 points

The KSE-100 stood at 177,168.09 by 9:45am on Tuesday, gaining 3,281.41 points, or 1.89%, in early trading, Business Recorder reported. The move followed US President Donald Trump’s remarks that military action against Iran was not needed for now, while easing oil prices also supported investor sentiment.

Buying was reported across banks, exploration firms, automobile assemblers, cement, oil marketing companies and power generators. MARI, OGDC, PPL, PSO, HUBCO, HBL, MCB, MEBL and UBL were among the index-heavy stocks trading higher; the market had also risen 7,477.44 points, or 4.5%, over the previous week to close at 173,886.69. Brent crude was down 1% at $91.56 a barrel, while Asian markets also advanced.