Relatively calm domestic environment supports sentiment while oil prices fall in Asian markets

KARACHI:

Stocks advanced at the Pakistan Stock Exchange (PSX) on Tuesday, with the benchmark KSE-100 Index adding 470 points by midday as buying in key sectors lifted sentiment amid falling oil prices and a relatively calm domestic environment.

The market opened on a positive note, with the index rising 558.25 points, or 0.34%, to 165,682.66 in early trading at 9.33am. It rose 470.14 points, or 0.28%, to 165,594.55 points from the previous close of 165,124.41, touching an intraday high of 166,070.47 and a low of 165,271.67.

Buying interest was concentrated in automobile assemblers, cement, commercial banks, oil and gas exploration companies, and oil marketing companies.

Read: PSX plunges 1,965 points amid political chaos

Meanwhile, oil prices fell in Asian markets and were on track for their first decline in nearly a week as traders assessed supply risks from attacks on Saudi Arabia while weighing the prospect of additional diesel supplies from Russia.

The positive trend suggests investors are cautiously returning to the market, although the sustainability of gains will depend on continued buying support and broader market sentiment.