KARACHI:
The Pakistan Stock Exchange (PSX) extended its positive momentum on Tuesday, with the benchmark KSE-100 Index gaining more than 1,300 points as investors continued buying across key sectors despite renewed geopolitical uncertainty in the Middle East.
The market opened on a strong note, with the index rising 1,305.39 points, or 0.78%, to 167,869.45. Buying interest persisted during the session, taking the index to an intraday high of 168,469.78. At 1:19pm, the benchmark was trading at 167,947.06, up 1,383 points, or 0.83%, from the previous close of 166,564.06. The index touched an intraday low of 167,308.65.
Internationally, oil prices edged higher after reports that the United States had struck Iran’s Qeshm Island, raising fears of further escalation in the eight-month conflict and prolonged disruption to Middle Eastern oil supplies.
Read: PSX records thin gains in volatile session
The reported strike added another layer of uncertainty to an already tense regional situation, keeping investors alert to developments in the conflict and their potential implications for global energy prices.
Despite these concerns, the PSX maintained its upward trajectory, suggesting that investors were focusing on buying opportunities in the local market rather than allowing geopolitical risks to dictate trading sentiment.
