The Pakistan Stock Exchange (PSX) witnessed bullish momentum on Monday amid renewed hopes of peace in the Middle East as the benchmark KSE-100 Index gained over 2,100 points.
At close, the benchmark index settled at 178,200.02, an increase of 2,105.91 points or 1.02%.
Buying interest was concentrated in key sectors, including commercial banks, cement, oil and gas exploration companies, oil marketing companies (OMCs), and power generation. Index-heavy stocks such as Mar, OGDC, PPL, NBP, UBL, and HUBCO all closed in positive territory.
The positive momentum follows a strong rebound in the Pakistan Stock Exchange (PSX) during the previous week, which ended a three-week losing streak.
Improved investor sentiment was driven by easing geopolitical tensions after the cessation of hostilities between the United States and Iran. According to the weekly market review, the benchmark KSE-100 Index climbed 5,072.93 points, or nearly 3% week-on-week, to settle at 176,094.13 points.
Meanwhile, international oil prices fell sharply after US President Donald Trump refrained from launching a fresh attack on Iran, instead signaling a preference for a swift diplomatic agreement aimed at curbing Tehran’s nuclear program and reopening the Strait of Hormuz.
Brent crude futures dropped $4.49, or 5.11%, to $83.44 a barrel by 0408 GMT, while US West Texas Intermediate (WTI) crude declined $4.90, or 5.79%, to $79.77 a barrel.
