PSX: stocks surge, KSE-100 gains over 4,700 points

The KSE-100 stood at 178,584.43 by 1pm on Tuesday, up 4,697.75 points, or 2.70%, as buying returned to the Pakistan Stock Exchange. Business Recorder linked the improved mood to US President Donald Trump’s comment that military action against Iran was not needed for now. The report described gains among index-heavy shares including MARI, OGDC, PPL, PSO, HUBCO, HBL, MCB, MEBL and UBL.

Purchases also spread across automobile, cement, banking, energy exploration, oil marketing and power-generation shares. A securities analyst cited by the publication said lower geopolitical risk and cheaper oil were behind investors’ reassessment; he also noted possible relief for Pakistan’s import bill, external account and inflation if the trend holds. The index had advanced 7,477.44 points, or 4.5%, over the preceding week, closing at 173,886.69.

The international backdrop was also stronger: Brent crude was last at $91.56 a barrel, down 1%, while Asian and US equity benchmarks had climbed. The source noted that oil’s retreat eased inflation concerns, although uncertainty remained over whether diplomacy would produce a lasting settlement between the US and Iran.