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The Pakistan Stock Exchange’s (PSX) benchmark index KSE-100 gained over 2,800 points during intraday trade on Monday as the US and Iran reached a preliminary agreement aimed towards ending a war that began over three months ago and crippled the world economy.
The KSE-100 index rose by 2,836 points (1.65 per cent) from the previous close of 172,399 to reach 175,236 points at 11am.
Yousuf M. Farooq, director of research at Chase Securities, said the market opened higher today as sentiment improved following the announcement of a deal between the US and Iran, along with expectations that the Strait of Hormuz would remain open.
Oil prices also opened lower, easing concerns over inflationary pressures going forward, he noted.
