KARACHI: The Pakistan Stock Exchange (PSX) witnessed a dramatic surge in trading today following the announcement of a two-week ceasefire in the Middle East, brokered by Pakistan.
After U.S. President Donald Trump announced the halt of military action against Iran, PSX saw a strong upward trend, reflecting investor confidence.
On the third day of the trading week, the PSX 100 Index jumped by over 12,000 points at market open.
Trading was temporarily paused due to the surge and resumed at 10:42 AM. Currently, the PSX 100 Index stands at 164,000 points after a gain of 12,362 points.
Global markets also reacted positively: Japan’s Nikkei index rose 5% to 55,960 points, New Zealand’s DJ index increased 2.5%, and Australia’s ASX climbed 2.65%.
The rally follows Pakistan’s successful mediation, after which Iran agreed to a two-week ceasefire and permitted the passage of ships through the Strait of Hormuz, signaling a temporary easing of regional tensions.