KSE-100 today: PSX jumps 3,300 points as Trump cools Iran strike talk
The KSE-100 rose about 3,300 points in early trade on Tuesday after Trump said military action against Iran is not needed for now and oil slipped below $92.
The Pakistan Stock Exchange opened Tuesday, 10 November, with one of its sharpest starts in months. At 9:45 AM the benchmark KSE-100 index stood at 177,168, up 3,281 points or 1.89%, Business Recorder reported, after US President Donald Trump said American military action against Iran was not necessary “at this point”.
That is an early-session figure. Markets can give back gains before the 3:30 PM close, as they did on Friday.
Why are Pakistani shares rising?
Oil is the short answer. Brent crude was trading around $91.56 a barrel on Tuesday morning, down about 1% and at its lowest since early September, according to Business Recorder. For Pakistan, which imports most of its fuel, cheaper oil means a smaller import bill, less pressure on the rupee and room for lower petrol prices.
The buying was broad: car assemblers, cement, banks, oil and gas explorers, oil marketing companies and power producers were all in demand. Index-heavy names such as MARI, OGDC, PPL, PSO, HUBCO, HBL, MCB, Meezan Bank and UBL traded in the green.
Nick Twidale, chief market strategist at ATFX Global, told the paper the latest signals offered hope that an end to the conflict “could be approaching”, while warning there is still “a considerable gap” between diplomacy and a lasting peace.
What happened last week?
Tuesday’s jump builds on the strongest week for the index in nearly six months. The KSE-100 gained 7,477 points, or 4.5%, last week to close at 173,887, The Express Tribune reported, before profit-taking on Friday knocked 1,493 points off ahead of the long weekend.
The backdrop helped: October inflation eased to 9.6% from 10.3% in September, State Bank reserves edged up to $21.56 billion, and petrol was cut by Rs25.32 a litre in the previous review, according to the same report. Brokers at JS Global said average daily volume rose 43% week on week to 856 million shares.
What it means for ordinary investors
A rally driven by war headlines can turn quickly. If talks between Washington and Tehran stall, oil could climb again and the gains could reverse, as happened several times in October. Retail investors chasing a hot day often buy at the top.
The ABHI IPO, Pakistan’s next big listing, opens for retail investors on 12 and 13 November, so this week will also show how much fresh money is willing to come into the market.
This is information, not investment advice. Watch Tuesday’s closing number and Brent crude through the week.
