KARACHI: Pakistan’s stock market opened the new trading week on a positive note on Monday, with the benchmark index gaining more than 400 points in early trade.
At 9:50 a.m. local time, the benchmark KSE-100 Index was trading at 180,006.95, up 435.69 points, or 0.24%.
Buying interest was seen in cement, commercial banking, oil and gas exploration, oil marketing, power generation, and refinery stocks.
Heavyweight shares, including Hub Power, Attock Refinery, Mari Energies, Pakistan Petroleum Limited, Pakistan Oilfields, Habib Bank, National Bank of Pakistan, and United Bank, traded in positive territory.
The market extended gains from the previous shortened three-day trading week.
Investor sentiment was supported by easing geopolitical tensions in the Middle East, investor-friendly amendments to Pakistan’s Finance Bill for fiscal year 2026-27, and lower domestic petroleum prices.
According to the weekly market review, the KSE-100 Index closed last week at 179,571.27, up 648.50 points, or 0.36%.
Elsewhere, Asian equities traded mixed on Monday as investors remained cautious despite signs of easing tensions between Iran and the United States.
The U.S. dollar hovered near a one-year high amid expectations that interest rates could remain elevated.
Last week, an Iranian missile struck a cargo vessel in the Strait of Hormuz, triggering retaliatory exchanges between Iran and the United States. Renewed diplomatic efforts have since raised hopes of a de-escalation.
U.S. S&P 500 and Nasdaq futures rose 0.4%, while European futures gained 0.2%.
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South Korea’s Kospi Index fell nearly 2%, while Japan’s Nikkei Index declined about 1%. The MSCI Asia-Pacific Index slipped 0.4%.
Oil prices also edged higher on concerns over the durability of the Middle East ceasefire.
Brent crude rose 0.85% to $72.60 a barrel, while U.S. West Texas Intermediate crude climbed more than 1% to $70.01 a barrel.
