PSX rebounds as KSE-100 gains over 900 points in early trade

KARACHI – Pakistan Stock Exchange (PSX) opened on a positive note on Tuesday, with renewed investor interest pushing the benchmark KSE-100 Index up by more than 900 points during early trading hours despite ongoing global geopolitical uncertainty and economic concerns. By 9:50am, the benchmark KSE-100 Index had climbed to 171,415.35 points, showing a gain of 909.04 points, or 0.53 percent, compared to the previous session’s close. Market activity remained strong across several major sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration companies, oil marketing companies, power generation firms, and refineries. Among the key stocks trading in positive territory were Attock Refinery Limited, Hub Power Company, Mari Energies, Oil and Gas Development Company, Pakistan Petroleum Limited, Pakistan Oilfields Limited, MCB Bank, Meezan Bank, National Bank of Pakistan and United Bank Limited. The positive momentum came a day after the market witnessed subdued and range-bound trading due to investor caution over rising tensions between the United States and Iran. On Monday, the KSE-100 Index had closed at 170,506.31 points, down by 609.51 points or 0.36 percent. Internationally, financial markets remained under pressure as investors closely monitored developments in the Middle East. Oil prices moved higher amid concerns over shipping activity through the Strait of Hormuz, a key global energy route. Brent crude futures rose 0.7 percent to reach $105 per barrel, while major global equity markets also showed signs of volatility. Asian shares declined, European futures weakened, and investors awaited key US inflation data expected later in the day. The experts said that the market participants were also monitoring comments from Donald Trump regarding tensions involving Iran, along with broader concerns over inflation and future interest rate decisions by the US Federal Reserve. Despite global uncertainty, buying activity at the PSX refle