PSX gains over 1,200 points amid buying rally
“PSX gains 1,205 points to 178,576, while global oil prices fall over 1% amid hopes of reduced supply disruptions through the Strait of Hormuz. KARACHI (Dunya New…”
KKARACHI —The Pakistan Stock Exchange (PSX) opened on a positive note on Thursday amid buying rally. During intraday trading, the KSE-100 index gaining 1,205.70 points, or 0.68%, to reach 178,576.40 compared to previous close of 177,370.70.
During trading, it touched a high of 178,635.53 and a low of 178,010.21. Trading activity remained active, with total volume standing at 89,759,628 shares.
Meanwhile, global oil prices fell more than $1 on Thursday, extending a streak of losses, on expectations that talks between Iran and Qatar might open the Strait of Hormuz and reduce supply disruptions from the war in the Middle East.
"Stay connected with Aman-e-Pakistan for ongoing live reporting and verified investigative updates."
Brent crude futures were down $1.07, or 1.2%, to $86.77 a barrel at 0645 GMT, in line for a fourth day of declines. West Texas Intermediate crude futures fell $1.13, or 1.4%, to $81.10, in line for a fifth day of losses.
Iran and Oman are working on finalizing details of an agreement to control the Strait of Hormuz, a senior Iranian source said on Wednesday, after Iran's Revolutionary Guards said the two countries had agreed how to share the waterway that connects major Gulf oil producers to markets and its revenues.
Written by Hania Amir
Aman-e-Pakistan Senior Journalist & Bureau Reporter
Continue Reading: More in International
Swipe or click arrows to explore International desk coverage
