psh The Pakistan Stock Exchange (PSX) opened higher on Thursday as strong buying activity pushed the benchmark index into positive territory.
During intraday trading, the KSE-100 Index climbed 1,205.70 points, or 0.68%, to 178,576.40, compared with the previous close of 177,370.70.
The index touched an intraday high of 178,635.53 and a low of 178,010.21. Trading remained active, with 89,759,628 shares changing hands during the session.
Meanwhile, international oil prices fell by more than $1 a barrel on Thursday, extending their recent decline. The drop came amid expectations that talks between Iran and Qatar could help reopen the Strait of Hormuz and ease supply disruptions caused by the ongoing conflict in the Middle East.
Brent crude futures were down $1.07, or 1.2%, to $86.77 a barrel at 0645 GMT, in line for a fourth day of declines. West Texas Intermediate crude futures fell $1.13, or 1.4%, to $81.10, in line for a fifth day of losses.
Iran and Oman are working on finalizing details of an agreement to control the Strait of Hormuz, a senior Iranian source said on Wednesday, after Iran’s Revolutionary Guards said the two countries had agreed how to share the waterway that connects major Gulf oil producers to markets and its revenues.
Source: Dunya News
