Karachi, Pakistan – Web Desk: The Pakistan Stock Exchange (PSX) continued its recovery on Tuesday, with the benchmark KSE-100 Index gaining over 1,000 points in midday trading as reports of mediation efforts between the US and Iran boosted investor sentiment .
Market Performance
The index rose to an intraday high of 178,370.45 before settling at 177,023.97, up 1,096.24 points (0.62%) . Earlier, the index had climbed as much as 1,902.30 points (1.08%) to 177,830.03 at 9:39am .
Key Sectors and Volumes
Buying interest was seen across automobile assemblers, commercial banks, oil and gas exploration companies, oil marketing companies, cement, and power generation . Trading volume reached 221.59 million shares valued at Rs13.63 billion .
Mediation Hopes
The positive momentum follows reports of diplomatic efforts to ease US-Iran tensions, helping improve risk appetite. Oil prices also fell as markets weighed mediation reports against fresh attacks and a Houthi naval blockade threat against Saudi Arabia .
Analysts expect market momentum to remain positive unless there is an untoward development on the US-Iran front .
