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 .

Last week, PSX remained in positive territory with the benchmark KSE-100 index crossing the 172,000-point mark as investors responded favourably to easing geopolitical tensions, lower oil prices and encouraging economic indicators ahead of the federal budget.

The budget was presented after market hours on the final trading day of the week, keeping activity measured as investors awaited details of the government’s fiscal plans.

According to Topline Securities, the KSE-100 index gained 1.13pc week-on-week, adding 1,921 points to close at 172,400.

The rally was supported by improving risk appetite amid hopes of progress in US-Iran negotiations and a decline in global oil prices.