The Pakistan Stock Exchange (PSX) began the new week on a negative note as the benchmark KSE-100 Index fell over 600 points on Monday.
At close, the benchmark index settled at 170,506.31, a decline of 609.51 points or 0.36%.
Selling pressure was witnessed in major sectors including cement, commercial banks, oil and gas exploration companies, OMCs, and power generation stocks.
During the previous week, KSE-100 Index recorded a strong recovery, surging by 5% or 8,121.64 points as investor sentiment improved amid reports of a possible peace memorandum between the United States and Iran following weeks of geopolitical tensions.
The benchmark index started the week at 162,994.17 points and ended at 171,115.81 points.
Meanwhile, global oil prices jumped on Monday after Donald Trump described Iran’s response to a US proposal as “unacceptable,” suggesting a potential resumption of hot war.
Brent crude futures rose by $4.16, or 4.11%, to reach $105.45 per barrel at 0340 GMT. US West Texas Intermediate crude also gained $4.38, or 4.59%, climbing to $99.80 per barrel.
