Bulls in control as PSX gains 4,000 points during intraday trade

The Pakistan Stock Exchange’s benchmark index on Monday rose 4,000 points during intraday trade.

The KSE-100 index gained 4,170 points to reach 167,164.26 points from the previous close of 162,994.17 points at 11:29pm.

According to Mettis Global, the sharp rally came as investors reacted positively to developments surrounding rising tensions between Iran and the United States, alongside efforts to stabilise the situation in key global energy routes.

Global oil prices eased on Monday after US President Donald Trump said the country would begin an effort to free up ships stranded in the Strait of Hormuz, although the lack of a US–Iran peace deal kept prices supported above $100.

Monday’s rally comes after the stock market ended its fourth consecutive session on a jittery note. The fall reflected investor nervousness over geopolitical tensions and surging oil prices, clouding the economic outlook.

Analysts have warned that Pakistan’s inflation is likely to remain in double digits if the surge in oil prices persists amid the unresolved Middle East conflict, adding that rising costs and disrupted imports are already straining the country’s external position.