Positive momentum returned at the Pakistan Stock Exchange (PSX) on Monday as the benchmark KSE-100 Index gained nearly 1,000 points.
At close, the benchmark index settled at 163,948.94, an increase of 954.77 points or 0.59%.
Buying activity was seen across major sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration firms, oil marketing companies (OMCs), power generation, and refineries. Heavyweight stocks such as, HUBCO, MARI, OGDC, PPL, POL closed in positive territory.
Last week saw Pakistan’s equity market remain under pressure amid ongoing geopolitical tensions and tightening financial conditions, which weighed on investor sentiment.
The benchmark KSE-100 Index dropped 4.5% on a week-on-week basis, losing 7,677.87 points to settle at 162,994.17.
Meanwhile, global oil prices edged lower on Monday after US President Donald Trump announced plans to assist vessels stranded in the Strait of Hormuz. However, the absence of a peace agreement between the United States and Iran kept prices elevated above the $100 mark.
Brent crude slipped by 6 cents, or 0.1%, to $108.11 per barrel by 0400 GMT, after declining $2.23 in the previous session.
US West Texas Intermediate (WTI) crude was recorded at $101.50 per barrel, down 44 cents, or 0.4%, following a $3.13 drop on Friday.
