Pakistan's KSE-100 index (the benchmark of the Pakistan Stock Exchange, one of South Asia's major equity markets) closed marginally higher on Tuesday, gaining just 205 points, or 0.12%, to settle at 176,133 after an early surge of over 2,400 points quickly gave way to broad profit-taking. Investor sentiment was dampened by shifting signals in global energy markets, as oil prices swung from a decline of more than 1% to a rise of nearly 2%, driven by ongoing US-Iran tensions and threats by Yemen's Houthi movement to impose a naval blockade on Saudi Arabia. Refinery stocks were among the hardest hit, weighed down by market speculation that a long-awaited domestic refinery policy could face further delays, while analysts noted that optimism over the current corporate earnings season provided only limited support.