Following US-Iran breakthrough, the Pakistan Stock Exchange (PSX) witnessed massive buying momentum as the benchmark KSE-100 Index gained over 4,600 points on Monday.
At close, the KSE-100 Index settled at 177,039.82 points, an increase of 4,639.92 points, or 2.69%.
Broad-based buying was observed across major sectors, including commercial banks, fertiliser, cement, oil and gas exploration, oil marketing companies (OMCs), and refineries. Heavyweight stocks such as KML, MARI, OGDC, PPL, POL, and UBL all traded in positive territory.
Last week, the KSE-100 Index gained 1.1% despite heightened volatility and a brief dip below the 170,000-point mark. Improved investor sentiment, driven by easing geopolitical tensions and lower international oil prices, helped revive risk appetite. On a week-on-week basis, the benchmark index advanced 1,921 points, or 1.13%, to close at 172,399.90 points.
Meanwhile, global oil prices fell to a three-month low on Monday after US President Donald Trump and Iran’s deputy foreign minister announced an initial agreement aimed at ending the conflict and restoring shipping through the Strait of Hormuz.
Brent crude futures declined $3.65, or 4.2%, to $83.68 per barrel, while US West Texas Intermediate crude dropped $4.13, or 4.9%, to $80.75 per barrel by 0630 GMT.
