karachi
\nEquities rose sharply on Tuesday as hopes of a deal to end the Middle East conflict lifted sentiment, though thin volumes pointed to lingering investor caution.
\nThe Pakistan Stock Exchange\u2019s (PSX) benchmark KSE-100 Index closed at 148,743.31 points, up 1,900.34 points, or 1.29%, against the previous close of 146,842.97.
\nThe index traded between a high of 150,225.63, up 3,382.66 points or 2.3%, and a low of 147,743.67, up 900.70 points or 0.61%.
\n\u201cMarket has currently opened up on hopes of a deal to end the Middle East conflict, but remains directionless due to the prevalent uncertainty,\u201d said Ahfaz Mustafa, Chief Executive Officer of Ismail Iqbal Securities.
\n\u201cVolumes are also reflecting a lack of investor participation, and the market is moving on very thin volumes,\u201d he added.
\nOil prices pared earlier gains as equities rose after a Wall Street Journal report said US President Donald Trump had told aides he is willing to end the military campaign against Iran even if the Strait of Hormuz remains largely closed, leaving its reopening for later.
\nThe report said the administration concluded that a mission to reopen the waterway could extend the campaign beyond Trump\u2019s four- to six-week timeline, prompting a focus on Iran\u2019s missiles and navy while pursuing diplomatic pressure to reopen the Strait. Trump separately warned on Monday that the US would \u201cobliterate\u201d Iran\u2019s energy plants and oil wells if Tehran did not reopen the waterway.
\nIn Asian trade, Brent for May fell $1.22, or 1.08%, to $111.56 a barrel by 0210 GMT, while the more active June contract traded at $105.76. WTI for May slipped 98 cents, or 0.95%, to $101.90 after earlier hitting its highest level since March 9.
\nA brokerage report by Optimus Capital Management warned consumer inflation could move into double digits in April on surging energy prices.
\nIt said the 25% month-on-month jump in fuel prices in March and higher transportation costs could account for 65% of the headline monthly rise, while electricity tariffs are expected to increase meaningfully and food prices may remain flat due to a supply glut linked to closed borders.
\nOptimus forecasts NCPI at 7.4% YoY, with the energy index at 16.6% YoY after 17 months, ahead of the release of March inflation data this week. Inflation stood at 7.0% in February, up from 5.8% in January.
\nIn the previous session, the KSE-100 fell 4,864.54 points, or 3.21%, to close at 146,842.97 after moving between 151,813.61 and 144,656.97.<\/p>\n","protected":false},"excerpt":{"rendered":"
karachi Equities rose sharply on Tuesday as hopes of a deal to end the Middle East conflict lifted sentiment, though thin volumes pointed to lingering investor caution. The Pakistan Stock Exchange\u2019s (PSX) benchmark KSE-100 Index closed at 148,743.31 points, up 1,900.34 points, or 1.29%, against the previous close of 146,842.97. The index traded between a …<\/p>\n","protected":false},"author":4,"featured_media":75395,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-95709","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/95709","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/comments?post=95709"}],"version-history":[{"count":1,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/95709\/revisions"}],"predecessor-version":[{"id":95719,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/95709\/revisions\/95719"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media\/75395"}],"wp:attachment":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media?parent=95709"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/categories?post=95709"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/tags?post=95709"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}