Benchmark 100-index gains 430 points
KARACHI: Positive start witnessed in the Pakistan Stock Exchange (PSX) as the benchmark 100-index gained 430 points at the start of business Tuesday.
The investors seem gaining their confidence back in the PSX after it lost more than 820 points during trading on Monday amid Middle East tensions. The bench mark 100-index is currently trading at the level of 41,761 points.
It may be noted that the gold rates, yesterday, had witnessed a record increase of Rs2850 per tola, as the international markets recorded a sizeable increase in the price of gold with an increase of 26 dollars on an ounce due to Iran-US tensions. The value of the precious metal per tola stood at Rs93350.
Earlier on Monday, A gauge of Asian shares was toppled from an 18-month top on Monday as heightened Middle East tensions sent investors scurrying for the safety of gold, which hit a near seven-year high while oil jumped to four-month peaks.
The United States detected a heightened state of alert by Iran’s missile forces, as President Donald Trump warned the U.S. would strike back, “perhaps in a disproportionate manner,” if Iran attacked any American person or target.