The Pakistan Stock Exchange (PSX) on Wednesday reacted positively after US President Donald Trump said he had agreed to a two-week ceasefire with Iran that was subject to the immediate and safe reopening of the Strait of Hormuz.
The benchmark KSE-100 Index increased over 14,000 points.
At close, the benchmark index settled at 165,811.00, an increase of 14,137.55 points or 9.32%.
Broad-based buying was observed across key sectors, including cement, commercial banks, oil and gas exploration, oil marketing companies (OMCs), and power generation. Index-heavy stocks such as ARL, HUBCO, MARI, OGDC, PPL, POL, MCB, HBL, and UBL all traded in positive territory.
On Tuesday, the Pakistan Stock Exchange (PSX) witnessed another volatile session, with the benchmark KSE-100 Index swinging within a wide range before closing in the green. Late-session buying, driven by optimism surrounding ceasefire developments between the United States and Iran, helped lift investor sentiment.
The benchmark KSE-100 Index settled at 151,673.46 points, registering a gain of 465.64 points, or 0.31%.
Meanwhile, global oil prices dropped sharply on Wednesday, falling below $100 per barrel after the United States and Iran agreed to a temporary ceasefire. Brent crude futures declined by $14.51, or 13.3%, to $94.76 per barrel at 0330 GMT, while US West Texas Intermediate (WTI) crude fell by $17.16, or 15.2%, to $95.79 per barrel.
