The Pakistan Stock Exchange’s (PSX) benchmark index soared 2,000 points during early trade on Tuesday.

The KSE-100 index was up 2075.58 points from the previous close of 175,927.73 points by 10:24am.

The development came as global oil prices softened on Tuesday, with markets weighing reports of mediation efforts between the US and Iran against an exchange of fresh attacks between the two and threats of a naval blockade of Saudi Arabia by Yemen’s Houthis.

Brent crude futures eased 78 cents, or 0.9 per cent, to $88.44 per barrel by 0415 GMT. US West Texas Intermediate crude was down 73 cents, or 0.9pc, to $82.50 per barrel, while the more active contract for September delivery slipped 41 cents, or 0.5pc, to $82.07 a barrel.

Awais Ashraf, director of research at AKD Securities, said the market extended the previous session’s late recovery as “oil prices retreated from a one-month high amid renewed mediation efforts between the US and Iran”.

“Investor sentiment is also being supported by optimism surrounding the ongoing earnings season, with oil and gas exploration, cement, refinery and textile companies expected to post stronger-than-usual results,” he said.

The stock exchange had opened the week on Monday on a depressed note, with the market remaining under extreme volatility. However, late value-hunting allowed the benchmark KSE-100 index to close the session in the green with a meagre gain.

Topline Securities Ltd said the index closed marginally higher, gaining 124.95 points or 0.07 per cent to settle at 175,927.74, as strong late-session buying in heavyweight banking and refinery stocks erased sharp intraday losses. The market remained highly volatile throughout the session, reflecting cautious investor sentiment amid lingering geopolitical tensions and uncertainty in global energy markets.

Additional input from Reuters

LAHORE: Former foreign minister Khurshid Mahmud Kasuri has said peaceful co-existence between Pakistan, India and China is essential to unlocking regional connectivity, stabilising trade routes and fighting poverty in one of the world’s poorest regions.

He was addressing a gathering to mark the 75th anniversary of diplomatic relations between Pakistan and China and the 105th anniversary of the founding of the Communist Party of China (CPC) here on Monday.

The event brought together diplomats, scholars and policymakers, including Chinese Consul General Sun Yan, Understanding China Forum (UCF) founding president Zafaruddin Mahmood, and former ambassador and Director of the Beaconhouse National University Centre for Policy Research (BCPR) Mansoor Ahmad Khan.

Kasuri, who is also chairman of the UCF, said Pakistan’s recent diplomatic and defence successes had placed the country in a position of confidence to pursue constructive engagement across South and Central Asia.

Pakistan has realised less than 25pc of CPEC’s potential, says former principal secretary to premier

Speaking about China’s development journey, Kasuri said the country’s progress had been built on a combination of visionary leadership, strategic planning and a sustained commitment to improving the lives of its people.

He identified four key pillars behind China’s success. The first, he said, was people-centred governance, with policies focused on improving the quality of life through poverty alleviation, healthcare, education and infrastructure development.

“The second pillar is theoretical innovation,” he said, describing it as the ability to adapt strategies to changing national and global circumstances while remaining committed to long-term development goals.

He said leadership development had also been a defining strength, with the CPC placing emphasis on identifying and training capable cadres to ensure disciplined, effective and forward-looking governance.

The fourth pillar, he added, was a commitment to peaceful development, with China promoting international stability, cooperation and a shared future for humanity while pursuing its own economic progress.

Kasuri also offered a historical analysis of global revolutions, contrasting the Chinese Communist Revolution of 1949 with earlier European, American and Soviet milestones. He highlighted how Chairman Mao Zedong adapted Marxism from an urban-centred ideology to an agrarian-focused movement rooted in rural struggle and resilience, exemplified by the historic Long March.

Tracing China’s post-Mao economic trajectory, Kasuri focused on Deng Xiaoping’s pivotal leadership in modernising the nation. He said Deng introduced two foundational maxims that redefined Chinese domestic policy and grand strategy under the concept of “Socialism with Chinese characteristics”, including the famous dictum: “It doesn’t matter if a cat is black or white, so long as it catches mice.”

Transitioning to the present era under President Xi Jinping, Mr Kasuri said China no longer needed to hide its capabilities.

“Having built a massive economic foundation, China under President Xi has moved towards proactive global engagement, driving high-quality development, technological self-reliance and mega-initiatives such as the Belt and Road Initiative (BRI) and the vision of a Community of Shared Future,” Kasuri said. He also extended his greetings to the Communist Party of China and congratulated the People’s Liberation Army on its 99th anniversary.

Former principal secretary to the prime minister Fawad Hassan Fawad recalled that when the China-Pakistan Economic Corridor entered the implementation phase, it was hailed as a flagship project by virtually everyone across the government, bureaucracy and the media. “And yet, we have not been able to achieve even 25pc of the project’s true potential, and we have fallen behind in securing its promised gains,” he lamented.

Former provincial finance minister Salman Shah, DWP Group CEO Farooq Naseem, UCF Director Syed Yawar Ali, former foreign secretary Shamshad Ahmed Khan, Civil Services Academy DG Farhan Aziz Khawaja and Lt-Gen Shafaatullah Shah also spoke.

Published in Dawn, July 21st, 2026

LAHORE: The water level in the Chenab River is likely to surge significantly over the next couple of days following ongoing rains in catchment areas of Indian-occupied Kashmir and fresh spells of heavy rain in parts of Punjab.

“At the moment, the Chenab River is flowing in medium flood. Its flow may surge and enter the high-flood category following forecasts of heavy rain over the next three to four days in both held Kashmir and Punjab,” a senior official of the Punjab Irrigation Department told Dawn on Monday.

“The situation may turn critical if there are heavy rains, as predicted, in the catchment areas of held Kashmir and Punjab,” he added.

Meanwhile, the Pakistan Meteorological Department’s Flood Forecasting Division (FFD) issued a forecast of high flood levels in major rivers, including the Chenab, and nullahs due to heavy rains expected until July 24.

According to the FFD’s Monday flood bulletin, the flows of all major rivers were likely to increase significantly by July 24 due to a prevailing westerly wave coupled with a strong monsoon incursion from the Arabian Sea and the Bay of Bengal over the catchments of all major rivers.

“High flood levels are expected in River Chenab at Marala, River Jhelum upstream of Mangla and associated nullahs of the Jhelum and Chenab (Dora, Dotta, Dowara, Bhimber, Halsi, Aik and Palkhu) and Ravi (Bein, Bassanter, Deg and Sakki). High flows are also expected in River Kabul and its associated tributaries,” the FFD warned.

It also forecast flash flooding in the hill torrents of DG Khan, streams of Khyber Pakhtunkhwa and northern Balochistan, and urban flooding in Rawalpindi, Jhelum, Gujranwala, Sargodha, Khushab, Sialkot, Gujrat, Narowal, Lahore, Okara, Sahiwal, Bahawalnagar and Faisalabad.

The FFD also mentioned the current situation regarding water flows at various gauging stations.

It observed that the River Indus was flowing at “low and below-low levels” at various stations, including Tarbela, Kalabagh, Chashma, Taunsa, Guddu Sukkur and Kotri.

“The Jhelum is flowing in low to medium flood at Mangla and Rasul, followed by the Chenab flowing in medium to high flood at Marala, Khanki and Qadirabad. The Ravi and Sutlej rivers are flowing in below-low flood,” it added.

Meanwhile, the daily water report issued by the Water and Power Development Authority stated that inflows and outflows in the River Indus at Tarbela were recorded at 232,500 cusecs and 210,000 cusecs, respectively. The inflows and outflows in the Jhelum at Mangla were recorded at 57,400 cusecs and 10,000 cusecs, respectively.