PSX rises nearly 1,100 points after market recovery

The Pakistan Stock Exchange (PSX) saw a strong recovery on Tuesday, with the KSE-100 Index rising by nearly 1,100 points.

The market improved after reports that US President Donald Trump delayed a planned military strike on Iran, which helped boost investor confidence.

At the close of trading, the benchmark index stood at 162,896.68 points, up by 1,091.66 points or 0.67%.

Buying activity was seen across several major sectors, including automobiles, cement, banks, oil and gas exploration, oil marketing companies, and power generation. Major companies such as ARL, HUBCO, OGDC, PPL, POL, and UBL performed positively during the session.

This recovery came after a sharp fall on Monday, when the market dropped by 3,791 points due to weak investor sentiment. Concerns over US-Iran tensions, stalled negotiations, and high global oil prices had pressured the market.

In global markets, oil prices also eased during early Asian trading. Brent crude fell by $3.01 to $109.09 per barrel, while US West Texas Intermediate (WTI) dropped by $1.38 to $107.28 per barrel.

Overall, the market showed signs of recovery after a volatile start to the week.