Loan rollover helps stocks extend gains

The Pakistan Stock Exchange (PSX) ended Tuesday's trading session on a highly positive note as UAE loan rollover, easing geopolitical worries and buying by local institutions helped extend the market's recovery. There was a reversal of the recent trend, where buyers continued to absorb selling pressure and pushed the KSE-100 index higher by nearly 1,850 points. Concerns over US-Iran tensions, rollover-related selling and caution ahead of corporate results subsided, while trading volumes showed signs of improvement. According to data, consistent buying by local institutional investors played a key role in underpinning confidence. During the day, the benchmark index traded between the high of 187,519 and low of 185,546. It closed at 186,901, up 1,843 points, or 1%.