Bulls in charge as PSX opens week by gaining 2,000 points during intraday trade
The Pakistan Stock Exchange (PSX) opened the week in the green, gaining more than 2,000 points during intraday trade. At 11am, the benchmark KSE-100 index had gained 2273.78 points, from the previous close of 176,094.11 points. The development came as global oil prices tumbled on Monday as Donald Trump said fresh talks with Iran will begin later in the day. Mettis Global, a web-based financial…
The Pakistan Stock Exchange (PSX) kicked off the week on a strong note, surging over 2,000 points intraday as of 11am. The KSE-100 index, a key benchmark, climbed 2273.78 points from the previous day's close of 176,094.11 points. This bullish trend was attributed to a drop in global oil prices and the announcement of fresh talks between the U.S. and Iran.
Mettis Global noted that "investors took cues from easing geopolitical tensions" following Donald Trump's decision to call off a planned strike on Iran, which lessened immediate concerns of a wider regional conflict. Awais Ashraf, director of research at AKD Securities, highlighted that "sentiment improved after the US president announced that talks with Iran would resume on Monday," reinforcing optimism.
The index, however, ended July lower, with a 4,208-point or 2.3% decline due to fears of heightened U.S.-Iran tensions driving up oil prices. Despite this, the KSE-100 index saw an average daily traded volume of 845 million shares and an average daily traded value of Rs37.5bn during the month.
Written by urgent.news from Dawn Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
