Get the latest news and updates from Dawn
The Pakistan Stock Exchange’s (PSX) benchmark index KSE-100 gained over 4,000 points 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 4,639.92 points (2.69 per cent) to close at 177,039.82 from the previous close of 172,399.90.
The market dipped to an intraday low of 175,085 at 11am, eventually reaching an intraday high of 177,176.72 at 3:25pm.
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.
