Islamabad
\nThe Pakistan Stock Exchange (PSX) surged by more than 14,000 points on Wednesday after Pakistan\u2019s diplomatic efforts paused the ongoing US-Israel war on Iran, registering its highest-ever single-day gain.
\nThe benchmark KSE-100 index jumped to 165,811.00 points after rising by 14,137.55 points or 9.32%, up from the previous close of 151,673.45 points. The market was halted minutes after opening due to the surge and resumed trading at 10:42am.
\nMediated by Pakistan, US President Donald Trump agreed to a two-week ceasefire with Iran, less than two hours before his deadline for Tehran to reopen the Strait of Hormuz or face devastating attacks on its civilian infrastructure.
\nIran\u2019s foreign minister, Abbas Araqchi, said in a statement Tehran would cease counter-attacks and provide safe passage through the waterway, if attacks against it stop.
\nPrime Minister Shehbaz Sharif also announced that he has invited the leadership from both nations to Islamabad on April 10 to further negotiate a conclusive agreement to settle all disputes.
\nAhfaz Mustafa, CEO of Ismail Iqbal Securities, told Geo.tv that the announcement of the ceasefire, especially due to the efforts by Pakistan, has buoyed investment sentiment to new highs. \u201cOil prices have reduced 15%, and global markets, along with ours, are now recovering. We had a sharp correction of 20\u201322%, and the market is starting to reduce the war\/macro discount and looking forward to normalisation.\u201d
\nTopline Securities\u2019 Maaz Mulla told Geo.tv that the equity market roared back as the ceasefire sparked a wave of optimism across trading floors. \u201cWith Islamabad set to host peace talks on April 10, investors swiftly priced in a reduction in geopolitical risk, flipping sentiment from caution to conviction.\u201d
\nFueling the rally further, he said, international oil prices tumbled sharply, easing fears of imported inflation and external account pressures. He added that the twin tailwinds of diplomatic de-escalation and softer energy prices unleashed broad-based buying, with participants chasing risk and rebuilding positions across cyclical plays.
\n\u201cIn essence, the market found its long-awaited trigger where geopolitics aligned with macro relief, turning the tide decisively in favour of the bulls.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Islamabad The Pakistan Stock Exchange (PSX) surged by more than 14,000 points on Wednesday after Pakistan\u2019s diplomatic efforts paused the ongoing US-Israel war on Iran, registering its highest-ever single-day gain. The benchmark KSE-100 index jumped to 165,811.00 points after rising by 14,137.55 points or 9.32%, up from the previous close of 151,673.45 points. The market …<\/p>\n","protected":false},"author":4,"featured_media":80114,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-96098","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/96098","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/comments?post=96098"}],"version-history":[{"count":1,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/96098\/revisions"}],"predecessor-version":[{"id":96110,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/96098\/revisions\/96110"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media\/80114"}],"wp:attachment":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media?parent=96098"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/categories?post=96098"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/tags?post=96098"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}