PSX: stocks surge, KSE-100 gains over 2%

The KSE-100 was up 3,487.88 points, or 2.01%, at 177,374.56 by 10:50am on Tuesday, as buying returned to the Pakistan Stock Exchange. Business Recorder linked the upbeat trading to US President Donald Trump’s statement that military action against Iran was not necessary at that point.

Purchases spanned automobile assemblers, cement, banks, oil and gas exploration, marketing companies and power generation. MARI, OGDC, PPL, PSO, HUBCO, HBL, MCB, MEBL and UBL were among the index-heavy shares trading higher; the benchmark had also gained 4.5% over the previous week. Asian and US markets rose as lower oil prices eased inflation concerns, although investors were still watching for developments around Iran and upcoming US inflation data.