PSX Rally continued on Thursday as strong buying activity pushed the benchmark KSE-100 Index more than 3,000 points higher during intraday trading.
Oil Prices Crude Eases as US-Iran Tensions Keep Markets on Edge
The index climbed to 178,378.43 points, gaining 3,092.65 points, or 1.76%. Meanwhile, the KSE-100 Index had closed at 175,285 points in the previous trading session.
The latest gains followed Wednesday’s recovery. Investors bought shares after prices fell sharply earlier in the week. As a result, the market recovered part of Tuesday’s losses.
Earlier this week, the KSE-100 Index dropped 6,408.23 points. Investors reacted to renewed military tensions between the United States and Iran. The conflict raised concerns about possible disruptions to energy supplies through the Strait of Hormuz.
Furthermore, fears over higher oil prices and regional instability weakened investor confidence. Those concerns triggered broad-based selling across the market.
However, market sentiment improved after U.S. President Donald Trump said Iran had shown interest in negotiations with Washington. According to analysts, the comments raised hopes that diplomatic efforts could reduce regional tensions.
Overall, the improving geopolitical outlook encouraged investors to return to the market. The renewed buying momentum helped the benchmark index extend its recovery during Thursday’s session.
