The Pakistan Stock Exchange (PSX) extended its recovery on Tuesday, with the benchmark KSE-100 Index gaining 1,454.80 points, or 0.87% from the previous close of 166,564.07, to settle at 168,018.87 as investors returned to heavyweight stocks for bargain hunting following recent market weakness. The benchmark opened on a positive note and maintained its upward trajectory throughout the session. It touched an intraday high of 168,469.78 and a low of 167,308.66. The positive momentum persisted despite mounting geopolitical uncertainty, as reports of a United States strike on Iran's Qeshm Island and an Iranian official's remarks that Tehran and Washington remained far from a deal to end the war kept investors cautious. The developments also reversed some of the relief in global oil markets, with crude prices rebounding after the previous session's steep decline. International oil markets also reflected the heightened uncertainty. Crude prices rebounded following a steep sell-off in the previous session, as concerns over a prolonged conflict and potential disruptions to Middle Eastern oil supplies resurfaced. Brent crude futures rose $1.36, or 1.3%, to $106.13 a barrel by 1043 GMT, while US West Texas Intermediate crude gained $1.45, or 1.5%, to $97.91. Despite the renewed pressure from geopolitical developments and rising oil prices, investors maintained their interest in local equities, with bargain hunting in heavyweight stocks providing support to the benchmark. Read: PSX records thin gains in volatile session The market witnessed a broad-based buying led by commercial banks, fertilisers, cements and investment banks, reflecting improved investor sentiment. Individually, Fauji Fertiliser, Engro Holdings, HBL, Pakistan Services, Meezan Bank and Engro Fertiliser were among the major contributors to the index's positive performance. On the global front, oil prices remained relatively lower compared to the previous session, trading in the range of $104–106 per barrel after briefly touching $107 per barrel. Meanwhile, market participants remained focused on the US midterm elections, alongside ongoing US-Iran negotiations through diplomatic mediators. Ahmed Sheraz of KASB KTrade wrote in their market wrap that PSX experienced a green session on Tuesday as the KSE-100 Index closed at 168,018 points, gaining 1,454 points (+0.87%) DoD, with approximately 212 million shares traded. Sentiment also received support from President Trump's indication that the US has no immediate plans to strike Iran, raising hopes of a potential diplomatic breakthrough. Going forward, developments on the geopolitical front, particularly the US elections and US-Iran negotiations, will remain key factors shaping market direction, Sheraz added. Cumulatively, trading volume increased to 517.3 million from Monday’s total of 443.4 million while the value of traded shares stood at Rs20.7 billion. Shares of 500 companies were traded in the ready market, of which 270 stocks closed higher, 189 fell and 41 remained unchanged. Cnergyico PK was the volume leader with trading in 114.9 million shares, losing Rs0.54 to close at Rs11.74.