PSX turns positive as Iran-US talk’s news boost investor sentiment

Karachi: The Pakistan Stock Exchange (PSX) rebounded sharply into positive territory following reports of an Iranian delegation’s expected visit to Pakistan for the second round of Iran-US talks.

The benchmark KSE-100 Index surged by 1,498 points to close at 170,672 points. Earlier in the trading session, the index had plunged by 2,165 points to 167,007 points before reversing its losses.

Market analysts linked the recovery to emerging diplomatic developments, including expectations of renewed dialogue between Iran and United States, with Pakistan playing a mediating role.

In global commodities, crude oil prices also declined amid easing geopolitical concerns. Brent crude fell from $107 to $104 per barrel, while West Texas Intermediate (WTI) dropped by $2 to trade near $95 per barrel.

According to sources, Iranian Foreign Minister Abbas Araghchi is expected to arrive in Islamabad, while a US delegation may also travel to Pakistan as part of ongoing diplomatic engagements aimed at facilitating peace talks.