PSX Surges Beyond 1,000 Points on Hopes of US‑Iran Mediation

The Pakistan Stock Exchange (PSX) advanced further on Tuesday as investor sentiment improved on news of US‑Iran mediation talks, pushing the benchmark KSE‑100 index above the 1,000‑point mark in midday trade.

The index climbed to an intraday peak of 178,370.45 points, then retreated to 177,023.97 points, reflecting a gain of 1,096.24 points, or 0.62%, over the previous close of 175,927.73.

Earlier in the session the index surged as high as 1,902.30 points, or 1.08%, reaching 177,830.03 at 9:39 am, while the session low stood at 176,930.74 points.

Read: Selective buying pushes PSX into positive territory

Buying interest spread across key sectors such as automobile assemblers, commercial banks, oil and gas exploration, oil marketing, cement, and power generation. Trading volume remained strong, with 221.59 million shares exchanged for a turnover of Rs13.63 billion.

The upward momentum is buoyed by reports of diplomatic efforts to ease US‑Iran tensions, which have improved risk appetite and supported buying on the local bourse. At the same time, oil prices slipped as investors balanced hopes of mediation against fresh clashes between the two countries and warnings of a possible naval blockade of Saudi Arabia by Yemen’s Houthis.

Market sentiment is expected to stay favorable unless any adverse development emerges in the US‑Iran situation.

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