PSX jumps over 4,500 points in early trading
The Pakistan Stock Exchange opened the week with a sharp rally, as the KSE-100 index gained 4,501.33 points by 9:50am. Analysts linked the jump to easing geopolitical tensions and lower oil prices.
KARACHI: Shares surged at the Pakistan Stock Exchange on Monday morning, with the benchmark KSE-100 index climbing 4,501.33 points to 175,522.53 by 9:50am, up from the previous close of 171,021.20.
Mettis Global linked the strong opening to improving investor sentiment as geopolitical tensions eased and global oil prices fell sharply.
The rally came as Iran and the United States held their fire on Monday, offering relief to Gulf shipping and the oil industry. Donald Trump’s UN envoy said the US president was “giving talks some space”.
Oil prices also dropped in early trade. Brent crude fell more than seven per cent at one stage to briefly move below $90 a barrel, while US benchmark West Texas Intermediate was also down.
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