Psx gains over 1200 points as falling oil prices hormuz reopening hopes boost sentiment
Psx gains over 1200 points as falling oil prices hormuz reopening hopes boost sentiment
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Desk Analysis
How This Affects the Exchange
Sector Effect
Neutral · Watch
Mixed or limited directional signal for Banks, Oil & Gas, Cement on the PSX.
Sectors & Direction
Desk read
Desk call: Watch · Neutral effect
- BanksNeutral effect
- Oil & GasNeutral effect
- CementNeutral effect
- PowerNeutral effect
- FertilizerNeutral effect
Companies
Mentions in This Briefing
Sectors: Banks, Oil & Gas, Cement, Power, Fertilizer — Neutral · Watch. PSX tickers: MEBL, MCB, UBL, HBL, BAHL, FABL. Mixed or limited directional signal for Banks, Oil & Gas, Cement on the PSX.
Full Story
Open on ProfitPsx gains over 1200 points as falling oil prices hormuz reopening hopes boost sentiment
The Pakistan Stock Exchange (PSX) extended its upward momentum on Thursday, as falling oil prices and optimism that talks between Iran and Qatar could lead to the reopening of the Strait of Hormuz and ease supply disruptions supported investor sentiment.
According to data available on the PSX website, the benchmark KSE-100 Index gained more than 1,200 points during the early minutes of trading. By 12:00 pm, the index was hovering at 178,514.38, up 1,143.68 points, or 0.64%, from the previous close.
Buying activity was recorded across several key sectors, including automobile assemblers, automobile parts and accessories, cement, commercial banks, exchange-traded funds, fertiliser, mutual funds, food and personal care products, glass and ceramics, oil and gas exploration companies, oil marketing companies, power generation and refineries.