PSX opens week strong as Asian rally, softer oil lift sentiment

Benchmark KSE-100 Index gains 464.19 points amid improving geopolitical sentiment

KARACHI:

The Pakistan Stock Exchange (PSX) opened the week on a positive note on Monday, mirroring a rally across Asian markets as improving geopolitical sentiment and softer oil prices boosted investor confidence. The benchmark KSE-100 Index was trading at 179,386.94 points at 12:34pm, higher by 464.19 points, or 0.26%, as trading continued and some profit-taking pared gains.

Strong buying interest emerged across automobile assemblers, cement, chemical, commercial banking, oil and gas exploration, oil marketing and refining stocks.

Read: PSX sheds nearly 2,500 points on profit-taking

The benchmark index climbed to 180,347.98 points by 9:34am, gaining 1,425.23 points, or 0.80%, from the previous close. According to market statistics, it touched an intraday high of 180,507.82 points and a low of 179,047.16 points.

The KSE-100 index had closed at 178,922.75 points in the previous session.

Meanwhile, total traded volume stood at 124.13 million shares, while traded value amounted to Rs11.68 billion. Market participants remained focused on the sustainability of the rally as trading continued amid improving regional sentiment and selective sectoral buying.