PSX gains over 2800 points during intraday trade after US, Iran reach preliminary agreeement

The Pakistan Stock Exchange’s (PSX) benchmark index KSE-100 gained over 2,800 points during intraday trade on Monday as the US and Iran reached a preliminary agreement aimed towards ending a war that began over three months ago and crippled the world economy. The KSE-100 index rose by 2,836 points (1.65 per cent) from the previous close of 172,399 to reach 175,236 points at 11am. Yousuf M. Farooq, director of research at Chase Securities, said the market opened higher today as sentiment improved...