KSE-100 up 3,600 points as Iran-US inches to peace agreement

Massive buying was observed at the Pakistan Stock Exchange (PSX) on optimism that the US and Iran were moving closer towards a peace deal, with the benchmark KSE-100 Index gaining over 3,600 points during the opening minutes of trading on Monday. At 9:34am, the benchmark index was hovering at 171,456.12, up by 3,611.88 points or 2.15%. Across-the-board buying was observed in key sectors, including automobile assemblers, cement, commercial banks, fertiliser, oil and gas exploration companies and OMCs. Index-heavy stocks, including HBL, MCB, MEBL, MARI, OGDC, PPL, POL and HUBCO, traded in the green.