PSX opens week in the green, gains more than 4,000 points during early trade

The Pakistan Stock Exchange’s (PSX) benchmark index opened the week on a strong note, gaining more than 4,000 points during early trade.

The KSE-100 index had gained 4,501.33 points to reach 175,522.53 points by 9:50am from the previous close of 171,021.20 points.

Mettis Global, a web-based financial portal, attributed the rally to “easing geopolitical tensions and a sharp decline in global oil prices”, saying it improved investor sentiment.

The development comes as Iran and the United States held their fire on Monday, handing Gulf shipping and the oil industry a respite from missile strikes as Donald Trump’s UN envoy said the president was “giving talks some space”.

Oil prices also tumbled on Monday as investors breathed cautious sighs of relief at the pause in combat. The price of a barrel of international benchmark North Sea Brent crude shed more than........

© Dawn Business