PSX: stocks surge, KSE-100 gains over 5,000 points as US-Iran tensions ease

Pakistan’s KSE-100 was up 5,170.57 points, or 2.97%, at 179,057.25 by 3:15pm on Tuesday, as investors bought shares after US President Donald Trump said military action against Iran was not needed at that stage. Business Recorder quoted Ismail Iqbal Securities’ Saad Hanif as saying easing tensions had reduced the risk premium on Pakistani equities.

The buying covered commercial banks, oil and gas exploration, oil marketing and power companies, among other sectors. MARI, OGDC, PPL, PSO, HUBCO, HBL, MCB, MEBL and UBL were among the index-heavy stocks trading higher. The report also noted a 7,477.44-point, or 4.5%, KSE-100 gain in the previous week, while Brent crude was down 1% at $91.56 a barrel.