Business Recorder
Following massive selling pressure in the previous session, buying interest returned at the Pakistan Stock Exchange (PSX) as the US and Iran remained engaged in talks to reach a deal, with the benchmark KSE-100 Index gaining nearly 4,000 points during the trading session on Tuesday. At 10:44am, the benchmark index was hovering at 164,559.39, up by 3,968.06 points or 2.47%. Buying was observed in key sectors, including automobile assemblers, cement, commercial banks, fertiliser, oil and gas exploration companies, OMCs, power generation and refinery. Index-heavy stocks, including HBL, MCB, MEBL, MARI, OGDC, POL, PPL, PSO, HUBCO, PRL and ARL, traded in the green. On Monday , the PSX witnessed a sharp and broad-based decline, reflecting heightened investor anxiety amid escalating geopolitical uncertainty and lack of progress in the US–Iran talks held in Islamabad. The benchmark KSE-100 Index plunged by 6,600.05 points or 3.95% to close at 160,591.33 points. Internationally, Asian stocks advanced while oil prices and the safe-haven dollar fell on Tuesday as the US said it continued to engage with Tehran to make a deal even as it blocked Iran’s ports after the collapse of peace talks over the weekend. Sources told Reuters that both sides have left the door open to dialogue, and a US official said there was forward momentum toward reaching an agreement. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 1% in early Asia trade, while Japan’s Nikkei and South Korea’s KOSPI rose more than 2% each. Nasdaq futures advanced 0.13% while S&P 500 futures held steady, following an overnight rally on Wall Street, while EUROSTOXX 50 futures gained 0.63% and DAX futures added 0.77%. US President Donald Trump said on Monday that Iran had “called this morning” and “they’d like to work a deal”. The US military, meanwhile, began a blockade of Iran’s ports in a move aimed at putting pressure on Tehran. This is an intra-day update
Go to News Site