PSX Rally: KSE-100 Gains Over 3,400 Points as Trump Signals Pause in Iran Strikes

KARACHI, November 10, 2026 — Buying activity returned to the Pakistan Stock Exchange (PSX) on Tuesday after US President Donald Trump said further military action against Iran was not necessary “at this point”, lifting investor sentiment and driving the benchmark KSE-100 Index more than 2 per cent higher in early trading.

At 10:50 am, the benchmark index stood at 177,374.56 points, gaining 3,487.88 points, or 2.01 per cent.

Investors showed strong buying interest across major sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration companies, oil marketing companies (OMCs) and power generation.

Index-heavy stocks, including Mari Energies (MARI), Oil and Gas Development Company (OGDC), Pakistan Petroleum Limited (PPL), Pakistan State Oil (PSO), Hub Power Company (HUBCO), Habib Bank Limited (HBL), MCB Bank, Meezan Bank (MEBL) and United Bank Limited (UBL), traded in positive territory.

The latest gains followed a strong weekly performance, during which the KSE-100 Index recorded its biggest weekly rally in nearly six months. The benchmark surged 7,477.44 points, or 4.5 per cent, week-on-week to close at 173,886.69 points.

Global markets also strengthened on Tuesday as falling oil prices and reduced concerns over further escalation in the US-Israeli conflict with Iran improved investor sentiment.

Asian shares advanced after Trump indicated that Washington would hold off on additional military strikes against Iran, while investors also awaited US inflation data for clues about the Federal Reserve’s future interest rate decisions.

Brent crude futures remained near their lowest levels since early September, trading well below $100 per barrel as investors assessed the possibility of diplomatic talks between Washington and Tehran. The benchmark was last down 1 per cent at $91.56 per barrel.

The conflict involving the United States, Israel and Iran, which began at the end of February, has raised concerns about global inflation and prompted major central banks to increase interest rates in recent months.

Nick Twidale, chief market strategist at ATFX Global, said recent developments had raised hopes that the conflict could move towards an end. However, he cautioned that significant differences remained between diplomatic efforts and a lasting peace agreement.

Lower oil prices helped ease inflation concerns and supported a recovery in global equities following last week’s market sell-off. However, concerns over potential regulatory changes following the Democrats’ sweeping victory in the US midterm elections had also weighed on technology stocks and expectations surrounding artificial intelligence investments.

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South Korea’s KOSPI rose more than 5 per cent, while Japan’s Nikkei gained around 3 per cent in early trading. MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 1.5 per cent, moving further away from the seven-month low recorded last week.

On Monday, Wall Street posted strong gains, with the S&P 500 rising 2.35 per cent for its biggest one-day advance since April. The Nasdaq Composite climbed 2.7 per cent, marking its strongest session in more than four months.

Investors are also monitoring earnings reports from technology companies due this week, including CoreWeave. The company’s results are expected to provide further insight into investor confidence in artificial intelligence infrastructure spending and the rising costs of expanding AI capacity.