PSX gains as KSE-100 closes at 171,402

KARACHI: The benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) gained 248 points on Tuesday to close at 171,402, according to market data.

The index had closed at 171,153.16 points in the previous session, when it gained 268.58 points, or 0.16 per cent.

Buying interest was observed across key sectors during Tuesday’s session, with automobile assemblers, cement, commercial banks, oil and gas exploration companies, power generation and refineries among the sectors supporting the index.

Index-heavy stocks including Attock Refinery (ARL), Hub Power Company (HUBCO), Mari Petroleum (MARI), Oil and Gas Development Company (OGDC), Pakistan Oilfields (POL), Habib Bank (HBL), Meezan Bank (MEBL), MCB Bank and National Bank of Pakistan (NBP) were trading in positive territory during the session.

The KSE-100 had risen more than 400 points in early trading, reaching 171,562.37 points at 10:10am, up 409.21 points or 0.24 per cent from the previous close.

The positive market sentiment is seen partly due to easing international oil prices and signs of potential US-Iran de-escalation, while noting that regional geopolitical tensions remained a factor for investors.