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The Pakistan Stock Exchange\u2019s (PSX) benchmark index rallied over 5,000 points on Tuesday, a day after shedding more than 6,000 points.<\/p>\n
The KSE-100 index surged by 5,043.51 points, or 3.14 per cent, to close at 165,634.84 points, from the previous close of 160,591.33 points.<\/p>\n
The index recorded an intraday low of 165,763.81 points at around 9:30am. However, it then rose to an intraday high of 165,763.81 points at around 3pm, before settling at 165,634.84.<\/p>\n
A day ago, the market shed 6,600 points<\/a> in a turbulent session, as fears of supply disruptions returned after inconclusive Iran-US peace talks<\/a>, triggering<\/a> panic-selling at the PSX.<\/p>\n However, another round<\/a> of Iran-US dialogue was being acti\u00advely pursued as Pakistan and others have step\u00adped up efforts to prevent the fragile process from sliding back into confrontation, diplomats said.<\/p>\n On the macroeconomic front, Fitch Ratings reaffirmed<\/a> Pakistan\u2019s long-term foreign-currency rating at \u201cB-\u201d, providing some underlying support for investor confidence.<\/p>\n Market sentiment had remained fragile throughout Monday\u2019s session, after the Islamabad Talks ended with no agreement between the United States and Iran and a naval blockade of the Strait of Hormuz loomed.<\/p>\n US President Donald Trump\u2019s announcement to block access to Iran\u2019s ports, which went into effect<\/a> last evening, has raised concerns about global oil supply disruptions<\/a> and macroeconomic stability.<\/p>\n <\/div>\n<\/figure>\n