Summary Pakistan stocks surged as the KSE-100 jumped over 4,500 points to 176,917 after a reported Iran-US deal boosted investor confidence, while Asian markets rallied and oil fell
KARACHI (Dunya News) – Pakistan Stock Exchange (PSX) witnessed a strong rally on the first trading day of the week after announcement of an agreement between the Iran and the United States, which boosted sentiment across regional financial markets.
At the start of trading, the KSE-100 recorded a positive trend, gaining more than 4,500 points. The KSE-100 Index climbed to 176,917 points, marking a significant improvement from the previous session.
On the last trading day of the previous week, the benchmark ndex had closed at 172,399 points. The latest rise reflects strong buying activity and increased optimism among investors.
Meanwhile, share markets surged in Asia on Monday while the dollar slipped and oil prices tumbled as a tentative peace deal between the United States and Iran promised to ease inflationary pressures globally and lessen the need for higher interest rates.
Pakistani Prime Minister Shehbaz Sharif said on social media early on Monday that a deal had been struck, while President Donald Trump said the agreement included opening the vital Strait of Hormuz, though without giving details.
