The index remained positive during the trading session and touched an intraday high of 181,158 points.
KARACHI: Pakistan’s stock market closed higher on Monday, with the benchmark KSE-100 Index gaining 397 points to settle at 180,502 points.
The index remained positive during the trading session and touched an intraday high of 181,158 points.
Shares worth around Rs48 billion changed hands during the session, with approximately 1.04 billion shares traded.
A total of 563 companies traded on the Pakistan Stock Exchange. Shares of 197 companies closed higher, while 279 declined.
The KSE-100 Index had closed at 180,104 points on the last trading day of the previous week.
Market analysts attributed the bullish trend to improved investor confidence in the country’s economic outlook and a decline in global oil prices.
More read, KSE-100 index ends week lower on US-Iran tensions
Earlier, Pakistan’s stock market closed lower during the business week, with the benchmark KSE-100 Index declining 0.7% to 180,105 points.
On a weekly basis, the index shed 1,325 points, with analysts attributing the decline mainly to tensions between the United States and Iran and uncertainty surrounding the Strait of Hormuz.
Brent crude oil prices also remained a key concern for investors, rising above $90 per barrel during the week before easing to around $86 per barrel.
Despite the overall decline, average daily trading volume increased 13% week-on-week to 1.1 billion shares, indicating improved investor participation.
Analysts said positive external and economic developments provided some support to investor confidence, while strong corporate earnings also helped limit the market’s losses.
