KARACHI: The Pakistan Stock Exchange (PSX) rallied sharply on Monday as hopes for a potential US-Iran agreement eased geopolitical tensions and improved investor sentiment ahead of the long Eidul Azha break. The benchmark KSE-100 index closed up 3,881.05 points, or 2.31%, at 171,725.29, with the session reaching an intraday peak of 171,920 points and a low of 170,161 points.
Positive developments in weekend talks between Iran and the United States boosted confidence, alongside a nearly $6-per-barrel drop in international oil prices. Heavyweight stocks including Habib Bank Ltd, Fauji Fertiliser Company, United Bank Ltd, Engro Holdings, and Lucky Cement led the surge, contributing 1,315 points to the index.
Trading activity strengthened, with volume rising 5.31% to 506 million shares and value jumping 37.08% to Rs31.1 billion. Bank of Punjab remained the most actively traded stock with 27 million shares.
Analysts noted that diplomatic progress and lower oil prices are supporting market momentum, though uncertainty around a final agreement may maintain volatility in the coming period.
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