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KARACHI: Falling oil prices, thanks to the resumption of energy shipping via the Strait of Hormuz following the signing of the ‘Islamabad MoU’, continued to fuel peace optimism, triggering buying interest across multiple sectors. As a result, the benchmark KSE-100 index maintained its recovery for the fourth straight session on Thursday.
Topline Securities Ltd said the Pakistan Stock Exchange (PSX) witnessed another bout of bullish momentum, with investors maintaining a positive stance throughout the session.
The benchmark index surged to an intraday high of 1,358 points at 181,869.34 before settling at 181,398.22, up 887.19 points or 0.49 per cent on a day-on-day basis.
The upward momentum was primarily fuelled by the continued decline in international crude oil prices, which improved the macroeconomic outlook and strengthened investor confidence. Further supporting sentiment was growing optimism about the anticipated signing of a peace agreement MoU between Iran and the US, reportedly scheduled for Friday. The development raised hopes of easing geopolitical tensions in the region, encouraging risk-taking and broad-based buying across key sectors.
