PSX Gains Over 800 Points as KSE-100 Rises in Early Trading
Pakistan Stock Exchange gains over 800 points as the KSE-100 Index rises in early trading.
The Pakistan Stock Exchange (PSX) opened the business week on a positive note, with the benchmark KSE-100 Index gaining more than 800 points during early trading on Monday.
The KSE-100 Index climbed to 171,732 points, reflecting strong buying interest across the market.
The latest advance follows a strong close in the previous trading session. On the final trading day of last week, the index gained 1,841 points and settled at 170,884 points.
Oil Prices Decline
Global oil prices fell to their lowest level in more than a week on Monday as investors monitored diplomatic efforts related to the Iran war.
Brent crude futures touched $101.71 a barrel by 0213 GMT, down $2.16, or 2.08%. The benchmark had declined 0.91% in the previous session.
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US West Texas Intermediate (WTI) crude also fell to $98.15 a barrel. The contract lost $2.15, or 2.14%, after declining 1.58% in the previous session.
Both Brent and WTI had earlier touched their lowest levels since September 10.
Markets Watch Iran Diplomacy
Investors are watching developments around the Iran conflict as diplomatic efforts receive renewed attention this week.
Market sentiment also reflected expectations of a partial recovery in Saudi Arabia’s oil shipments. However, attacks by Yemen’s Houthi movement continue to create uncertainty around regional energy supplies.
Changes in international oil prices remain important for Pakistan because the country relies heavily on imported energy. Lower crude prices can reduce pressure on the import bill, although broader market conditions and exchange-rate movements also influence domestic costs.
