PSX opens week in the green, gains more than 4,000 points during early trade

The Pakistan Stock Exchange (PSX) opened the week strongly, with its benchmark KSE-100 index gaining over 4,000 points in early trading. The index reached 175,522.53 points, a significant jump from the previous close of 171,021.20.

Mettis Global, a financial portal, linked the rally to "easing geopolitical tensions and a sharp decline in global oil prices," noting that these factors improved investor sentiment. This positive turn comes after a week where the market faced pressure. The KSE-100 index had lost 2.7 percent, shedding 4,782 points, due to escalating Middle East conflict concerns and rising international oil prices.

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easing geopolitical tensions and a sharp decline in global oil prices

Investor sentiment had been cautious amid these geopolitical developments. The previous week's decline occurred despite positive domestic news, such as an upgrade in Pakistan's sovereign credit rating. The easing of tensions, particularly between Iran and the United States, and the subsequent drop in oil prices provided a much-needed respite for the market and the oil industry.

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giving talks some space