Buying returns to bourse, KSE-100 up over 1% in early trade

Buying momentum returned to the Pakistan Stock Exchange (PSX) amid positive cues on both the domestic and political fronts, with the benchmark KSE-100 Index gaining over 1% during the opening minutes of trading on Tuesday. At 9: 34am, the benchmark index was hovering at 173, 943. 68, up by 1, 746. 98 points or 1. 01%. Buying was observed in key sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration companies, OMCs, power generation and refinery. Index-heavy stocks, including ARL, HUBCO, MARI, OGDC, PPL, POL, HBL, MCB, MEBL and NBP, traded in the green. In a key development, the State Bank of Pakistan (SBP) said on Tuesday it had received funds of $1 billion from the Ministry of Finance, Kingdom of Saudi Arabia. On Monday, PSX ended the first trading session of the week on a negative note, as cautious investor sentiment prevailed amid escalating geopolitical tensions. The benchmark KSE-100 Index plunged by 1, 742 points to close at 172, 197. Internationally, stocks rebounded in early trading in Asia on Tuesday as markets took heart ​from reports Iran is considering attending peace talks with the United States in Pakistan, with renewed bets on AI underpinning demand. Investors ‌were also keeping their eyes on a Senate confirmation hearing later for Kevin Warsh, U. S. President Donald Trump’s nominee to lead the Federal Reserve, which Trump has repeatedly criticised for failing to cut rates sooner and more aggressively. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0. 9%, as South Korea’s Kospi rose 2. 1% to hit ​a fresh record high for the first time since the Iran war began. S&P 500 e-mini futures were up 0. 1%, while ​Brent crude slipped 0. 4% to $95. 09 a barrel. Japan’s Nikkei 225 tacked on 1. 2%, while Australian shares bucked the trend, slipping ⁠0. 3%. An uneasy ceasefire between the United States and Iran frayed after the U. S. announced the seizure of an Iranian cargo ship, drawing vows of ​retaliation from Tehran. Iran said over the weekend it would skip a second round of negotiations, though a senior official later told Reuters the ​country may yet send delegates to talks expected in Islamabad. This is an intra-day update

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