Karachi – After a significant decline in crude oil prices in the global market, a positive trend has emerged in Asian stock markets, while the Pakistan Stock Exchange also ended the business week with a strong rally.
According to international media reports, the price of Brent crude oil has fallen by about $ 5 to $ 97 per barrel. Similarly, WTI crude oil was trading at $ 91 per barrel.
According to reports, the price of Merbin crude oil fell by 6.5 percent, after which it was sold at $ 95 per barrel.
Economists say that the decline in crude oil prices is being considered positive news for the global economy as it creates the possibility of reducing transport, industry and energy costs.
Meanwhile, investor confidence improved in Asian stock markets, while the Pakistan Stock Exchange also recorded a significant rally.
The KSE 100 index of the Pakistan Stock Exchange closed at 171,725 points after increasing by 3,881 points.
According to market observers, the market was supported by increased investment in banking, cement, energy and fertilizer sectors. Investors showed keen interest in shares of large companies, which kept the overall market in the positive zone.
According to analysts, if the decline in global oil prices continues, it may have a positive impact on Pakistan’s economy, especially in terms of import bills and inflation.
We welcome your contributions to The Pakistan Observer, Submit your blogs, articles, press releases, news story pitches and news features.
Please send your submissions to our News Room or Editorial team.
