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The Pakistan Stock Exchange’s (PSX) benchmark index began the week on a strong note on Monday, gaining over 2,300 points during intraday 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 1pm, the index had dipped to 170,189.87 points, up by 2,345.63 points (1.40 per cent).
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 5pc to $99.41 and $92.49 a barrel, respectively.
