PSX swings between losses and gains as investors weigh Middle East peace prospects

The KSE-100 had fallen more than 800 points to 165,585.42 on Monday before turning higher in afternoon trade. At 1:50 pm, it stood at 166,734.58, up 325.33 points, or 0.2%, from the previous close of 166,409.25, Profit by Pakistan Today reported. Investors were tracking lower oil prices and diplomatic discussions involving Iranian and Qatari officials on ending the conflict.

The move followed a 4,034.37-point, or 2.5%, rise over the previous week, which ended a five-week losing run. AKD Securities said average daily volume jumped 121% to 1.095 billion shares during that period, while AHL reported that the index lost 3,560 points, or 2.1%, in October amid geopolitical and domestic uncertainty. Oil prices were down more than 3% on Monday, with Brent at $110 a barrel and US West Texas Intermediate at $100.62.