Buying returns to bourse, KSE-100 up 2,000 points
- Benchmark index was hovering at 170,954.65
A day after intense selling pressure, buying returned to the Pakistan Stock Exchange (PSX) on Tuesday after Iran and Israel announced a halt to attacks on each other, with the benchmark KSE-100 Index gaining over 2,000 points during the opening minutes of trading.
At 9:55am, the benchmark index was hovering at 170,954.65, a gain of 2,000.95 points or 1.18%.
Buying was observed in key sectors, including automobile assemblers, cement, commercial banks, fertiliser, oil and gas exploration companies and OMCs. Index-heavy stocks, including MARI, OGDC, PPL, POL, HUBCO, PSO, MEBL and NBP, traded in the green.
On Monday, renewed exchanges of attacks between Iran and Israel and fading hopes for a near-term diplomatic breakthrough kept investors on the defensive, dragging PSX lower for another session as geopolitical uncertainty overshadowed otherwise healthy market participation.
The benchmark KSE-100 Index slipped below the key 170,000-point psychological threshold for the first time since May 22, 2026 and ended at 168,953.71 points.
Internationally, Asian stock markets eked out a rally on Tuesday and oil prices came off highs after Israel and Iran said they would halt attacks on each other for now, while ever-hopeful investors bought the latest dip in semiconductor stocks.
Analysts cautioned the bounce was narrowly based, with 60% of the S&P 500 finishing in the red overnight, even as the overall index edged up. Share futures for Wall Street and Europe were also lower in early trading.
Higher bond yields continued to test stretched equity valuations, with shipping through the Strait of Hormuz still badly restricted.
South Korea’s share market climbed 3.4%, having sunk more than 8% on Monday after a run of spectacular gains left valuations stretched and retail investors with extended margin positions.
Japan’s Nikkei firmed 0.9%, after losing 3.9% the previous session, while MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1.5%.
Chinese blue chips added 0.4% as trade data showed exports rose 19.4% in May and imports climbed 27.4%, with both beating median forecasts. The strength shows China’s success in finding new markets in the face of U.S. tariffs and other trade hurdles, even as domestic demand struggles.
This is an intraday update
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