PSX: Buying continues, KSE-100 up over 200 points

Buyers were active on the Pakistan Stock Exchange on Monday, according to Business Recorder, and the KSE-100 climbed more than 200 points as trading opened. At 10am the index stood at 171,103.30, up 218.72 points or 0.13%. Gains were spread across car makers, cement producers, banks, oil and gas explorers, oil marketing firms and refiners.

The index had finished the previous week at 170,884.59, a weekly gain of 372.73 points or 0.22%, despite sizeable swings in investor mood. Ongoing tension between Washington and Tehran, worries about regional energy supplies and a sharp rise in oil costs at home and abroad had kept traders wary and held back gains.

Major shares including HUBCO, MARI, OGDC, PPL, POL, PSO, SSGC, NBP and UBL also rose, reflecting the broad buying seen during the session. Abroad, Asian equities nudged higher on Monday as artificial intelligence data-center demand lifted chip shares, while crude eased after reports indicated more oil was leaving the Middle East than previously thought. This came even as the conflict in the Gulf continued.