Stocks surge 2,100 points on oil price dip
The Pakistan Stock Exchange saw a significant surge of over 2,100 points following a decline in global oil prices and easing geopolitical tensions between the US and Iran. Investors responded positively to the improved economic outlook and lower inflation data.
Why it matters
Market fluctuations in emerging economies are highly sensitive to global energy prices and regional geopolitical stability.
--> Home Business Stocks surge 2,100 points on oil price dip Easing Gulf situation drives optimism; investors focus on banking, cement, fertiliser sectors
facebook --> twitter --> whatsup --> linkded --> email MORE (3) Messenger Whatsapp --> KARACHI: Renewed investor optimism lifted the Pakistan Stock Exchange (PSX) on Monday as the benchmark KSE-100 index surged more than 2,100 points, driven by a robust buying momentum across major sectors following a sharp decline in international oil prices.
The KSE-100 settled at 178,200.02, gaining 2,105.91 points, or 1.20%, compared to the previous close at 176,094.12. It touched the intra-day high of 178,985.95 while the day's low was 177,759.88.
Buying remained broad-based throughout the session, with commercial banks, oil marketing companies, cement, fertiliser, oil and gas exploration companies and power generation stocks leading the advance and underpinning the market's positive performance.
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