PSX opens week in the green, gains more than 7,000 points during intraday trade

The Pakistan Stock Exchange’s (PSX) benchmark index opened the week on a strong note, gaining more than 7,000 points during intraday trade. The KSE-100 index had gained 4,501.33 points to reach 175,522.53 points by 9:50am from the previous close of 171,021.20 points. By 3:09pm, the index had gained 7,081.19 points to cross the 178,000-point level. Awais Ashraf, director of research at AKD Securities, said investor sentiment improved after the US and Iran paused military strikes, raising hopes for a diplomatic resolution to the Middle East conflict and the resumption of shipping through the Strait of Hormuz. “The easing of geopolitical tensions has also increased the likelihood that the…