The PSX benchmark index rose by nearly 1,200 points during Tuesday’s intra‑day session.
The KSE‑100 index opened higher, climbing 2,442.72 points to an intraday peak of 178,370.45 at 10:09 am.
After reaching that high, the index slipped after noon, falling to 177,120.04 points at 12:44 pm, a gain of 1,192.31 points (0.68 %).
The movement coincided with softened global oil prices on Tuesday, as markets weighed reports of US‑Iran mediation against renewed attacks and threats of a naval blockade of Saudi Arabia by Yemen’s Houthis.
Brent crude futures slipped 78 cents, or 0.9 %, to $88.44 per barrel by 04:15 GMT; US West Texas Intermediate fell 73 cents, or 0.9 %, to $82.50 per barrel, while the September contract dropped 41 cents, or 0.5 %, to $82.07 per barrel.
Awais Ashraf, director of research at AKD Securities, noted that the market extended the prior session’s late recovery, observing that oil prices had retreated from a one‑month high amid renewed US‑Iran mediation efforts.
He added that investor sentiment is bolstered by optimism about the current earnings season, with oil and gas explorers, cement producers, refineries and textile firms anticipated to deliver stronger‑than‑usual results.
The exchange opened the week on a downbeat note amid extreme volatility, but late‑session buying enabled the KSE‑100 to close modestly higher.
Topline Securities Ltd reported that the index edged up 124.95 points, or 0.07 %, to 175,927.74, driven by late buying in large banking and refinery stocks that offset earlier losses. The market stayed highly volatile, reflecting cautious sentiment amid persistent geopolitical tensions and uncertainty in global energy markets.
Additional input from Reuters
