The Pakistan Stock Exchange (PSX)’s benchmark index KSE-100 gained over 959.09 points on Tuesday amid geopolitical uncertainty.
KSE-100 gained 959.09 points or 0.56 per cent to close at 173,155.79 from the previous close of 172,196.70 points.
The KSE-100 rose to an intraday high of 175,298.11 at around 10:27am, then declined to an intraday low of 172,837.79 points at 3:17pm, before settling at 173,155.79.
Trading began on a positive note, with the index gaining as many as 3,100 points, before slipping slightly while remaining in the green.
The bullish momentum follows the State Bank of Pakistan’s (SBP’s) confirmation of it recieving $1 billion from Saudi Arabia as the second tranche of a $3bn deposit.
On Monday, the market plunged by over 1,700 points, failing to sustain last week’s bullish spell as fears of the economic fallout from the ongoing Middle East conflict resurfaced.
The potential second round of US-Iran talks in Islamabad, expected within the next two days, as per media reports, remains a key catalyst for market direction.
While a US delegation is expected to arrive in Islamabad, Iran has yet to reach a final decision on its participation, saying it cannot negotiate under “shadow of threats”.
Sentiment is likely to remain broadly supportive but highly sensitive to headlines, with incremental developments expected to drive near-term momentum and investor positioning.
