KARACHI – Web Desk: The Pakistan Stock Exchange (PSX) witnessed a significant rebound on the fourth day of the trading week, with the KSE-100 Index recovering to the 171,000-point level, according to market reports.
At the opening of trading, the KSE-100 index showed strong gains, adding over 1,000 points to reach 171,271 points. In the previous session, the index had closed at 170,190 points, down 831 points. Market analysts attribute the rebound to renewed investor confidence and positive trading sentiment.
Meanwhile, oil prices fell on Thursday as a ceasefire deal between Israel and Lebanon boosted hopes for a broader agreement to end the US-Israeli war with Iran that could lead to the reopening of the Strait of Hormuz. Brent futures were down 87 cents (0.89%) at $96.92 per barrel, while US West Texas Intermediate crude fell 78 cents (0.81%) to $95.24, paring gains from earlier in the week. Both Brent and WTI had risen about 2% on Wednesday after renewed Middle East hostilities, including Iranian attacks on Kuwait and US military strikes near the Strait of Hormuz.
