The Karachi Stock Exchange's benchmark KSE-100 index (Pakistan's main equity market gauge) surged 5,043 points, or 3.14%, to close at 165,634 on Tuesday, partially recovering from a 6,600-point plunge the previous session triggered by panic-selling over fears of global oil supply disruptions. Monday's rout had been sparked by inconclusive Iran-US nuclear talks in Islamabad and the subsequent US naval blockade of Iranian ports, which pushed oil prices back above $100 a barrel. Sentiment steadied on news that a fresh round of Iran-US dialogue was being actively pursued, while Fitch Ratings' reaffirmation of Pakistan's long-term foreign-currency credit rating at "B-" provided additional support to investor confidence.