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The Pakistan Stock Exchange’s (PSX) benchmark index began the week on a strong note on Monday, gaining 2,800 points during early trading.
The KSE-100 index had gained 3,594 points and was at 171,438 points at 9:30am, compared to Friday’s close of 167,844.24 points. By 9:39am, the index had slightly dipped to 2,870 points at 170,714 points.
The development comes amid hopes that a deal between the United States and Iran to open the Strait of Hormuz could be announced soon.
Oil prices also fell on Monday. The price of North Sea Brent crude and West Texas Intermediate slipped close to five percent to $99.41 and $92.49 a barrel, respectively.
