PSX surges over 4,600 points after US-Iran breakthrough

The Pakistan Stock Exchange (PSX) saw strong buying activity on Monday after a breakthrough in US-Iran relations improved global market sentiment.

The benchmark KSE-100 Index jumped by 4,639.92 points, or 2.69%, and closed at 177,039.82 points.

Investors showed interest across major sectors including banks, cement, fertiliser, oil and gas exploration, oil marketing companies, and refineries. Key stocks such as OGDC, PPL, POL, UBL, MARI, and KML all performed positively.

Last week, the market had already shown improvement, gaining 1.1% despite some volatility and a brief drop below the 170,000 level. On a weekly basis, the index rose by 1,921 points, or 1.13%, closing at 172,399.90 points.

Market sentiment improved mainly due to easing geopolitical tensions and falling global oil prices, which helped increase investor confidence.

Meanwhile, international oil prices dropped to a three-month low after an initial agreement between US President Donald Trump and Iran’s deputy foreign minister aimed at reducing conflict and improving shipping in the Strait of Hormuz.

Brent crude fell by $3.65 to $83.68 per barrel, while US West Texas Intermediate (WTI) dropped by $4.13 to $80.75 per barrel.