Buying interest was observed at the Pakistan Stock Exchange (PSX) on Monday, with the benchmark KSE-100 Index gaining over 200 points at the end of the trading session, reported 24NewsHD TV channel.
The index climbed to 171,732 points during trading, reflecting strong buying activity in the market.
At the close of the trading session, the benchmark index gained 171,153.16 points up 268.58 points, or 0.16%.
Buying was observed in key sectors, which include automobile assemblers, cement, commercial banks, oil and gas exploration companies, OMCs and refineries. Index-heavy stocks, including HUBCO, MARI, OGDC, PPL, POL, PSO, SSGC, NBP and UBL, traded in the green.
Last week, the PSX saw pronounced volatility, with the benchmark index trading within a narrow range despite substantial swings in investor sentiment.
Persistent geopolitical friction between the United States and Iran, renewed concerns over regional energy supplies, and a sharp rise in international and domestic oil prices kept investors cautious, limiting equity upside as the benchmark KSE-100 Index edged up only 372.73 points, or 0.22% week-on-week, to 170,884.59 points.
Internationally, share markets edged higher in Asia on Monday as AI’s insatiable demand for data buoyed chipmakers, and oil eased on reports that more oil was finding its way out of the Middle East than previously thought, despite the ongoing conflict in the Gulf.
S&P 500 futures firmed 0.4%, while Nasdaq futures added 0.6%. In Europe, EUROSTOXX 50 futures and DAX futures both rose 0.4%, while FTSE futures firmed 0.2%.
Bond markets remained tense after a vicious selloff saw US 2-year yields jump 36 basis points in the past two weeks to heights not seen since mid-2024 at 4.7604%.
Hawkish guidance from the Federal Reserve last week has futures wagering on a 56% chance it will hike rates again in October, with a move by year-end considered a done deal.