The Pakistan Stock Exchange (PSX) continued to witness positive momentum as the benchmark KSE-100 Index surged nearly 3,400 points on Tuesday.
At close, the benchmark index settled at 180,392.97, a gain of 3,353.15 points, or 1.89%.
The market saw widespread buying across multiple sectors, especially automobile assemblers, chemicals, commercial banks, and oil and gas exploration companies, along with oil marketing companies (OMCs) and refineries.
Major index-heavy stocks such as OGDC, PPL, POL, MARI, ARL, PSO, HBL, MCB, and MEBL traded firmly in positive territory, contributing significantly to the overall gains.
On Monday, the PSX posted a record rally as investors reacted strongly to the federal government’s budget measures, as well as reports of a preliminary peace understanding between the United States and Iran, which helped ease concerns over potential global oil supply disruptions and improved risk appetite.
The KSE-100 Index jumped 4,639.93 points, or 2.69%, closing at 177,039.83.
In global markets, oil prices edged higher on Tuesday amid uncertainty over the details of the US-Iran agreement and expectations that restoring full flows through the Strait of Hormuz may take longer than initially assumed.
Brent crude rose 26 cents to $83.42 per barrel, while US West Texas Intermediate gained 46 cents to $81.12 per barrel, as of 0108 GMT.
