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Ahead of the Eidul Azha break, the Pakistan Stock Exchange’s (PSX) benchmark index on Monday rallied more than 3,800 points amid hopes of a deal between the United States and Iran.
The KSE-100 closed at 171,725.29 points, up 3881.05 points from the previous close of 167,844.24 points. The index witnessed an intraday high of 171,920.80 points and an intraday low of 170,161.66 points.
According to Topline Securities, the market experienced considerable intraday volatility even as investor sentiment staged a strong recovery.
“Investor confidence improved significantly following positive developments over the weekend regarding negotiations between Iran and the US, with reports indicating that discussions may reach a conclusion in the near term. Sentiment was further bolstered by a sharp decline in international oil prices, which fell by nearly $6 per barrel,” it said.
