KSE-100 Index gains over 1,200 points

KARACHI: Positive momentum returned at the Pakistan Stock Exchange (PSX) on Tuesday amid reports of a potential diplomatic breakthrough, with mediating nations, including Pakistan, working to convene high-level talks in Islamabad as early as this week to ease tensions in the Middle East.

The market opened on a strong note, briefly touching an intra-day high of 157,443, indicating early aggressive buying. However, the rally proved short-lived as sharp profit-taking kicked in soon after, dragging the index down quickly toward the 154,000 level within the first hour.

The index later slipped closer to the day’s low of 153,382, indicating cautious investor behaviour.

At close, the benchmark index settled at 153,966.36, a gain of 1,225.99 points or 0.80%. Brokerage house Topline Securitie said the day began on a hopeful note, as the local bourse took cues from buoyant international markets. “Easing geopolitical tensions and a dip in global oil prices set the stage for optimism, inviting bulls to charge early into the session.” Staff Report