The Pakistan Stock Exchange (PSX) edged upward as the benchmark KSE-100 Index gained over 200 points on Tuesday.
At close, the benchmark index settled at 176,133.56, a gain of 205.83 points or 0.12%.
Buying interest remained strong across major sectors on Tuesday, including automobile assemblers, cement, commercial banks, oil and gas exploration companies, oil marketing companies (OMCs) and power generation firms.
The gains followed Monday’s resilient performance, when the Pakistan Stock Exchange (PSX) staged a sharp intraday recovery after opening under pressure.
Aggressive value buying in blue-chip stocks helped offset panic selling triggered by escalating geopolitical tensions in the Middle East and a surge in global oil prices, allowing the benchmark KSE-100 Index to close 124.95 points, or 0.07%, higher at 175,927.74.
Meanwhile, international oil prices edged lower on Tuesday as investors assessed reports of mediation efforts between the United States and Iran alongside renewed exchanges of attacks and threats by Yemen’s Houthis to impose a naval blockade on Saudi Arabia.
Brent crude futures slipped 35 cents, or 0.4%, to $88.87 per barrel, while US West Texas Intermediate (WTI) crude for September delivery held steady at $82.47 per barrel.
