The Pakistan Stock Exchange (PSX) gained momentum on Wednesday, with the KSE-100 Index surging over 2,600 points amid optimism over a possible Middle East ceasefire, global market rallies, and declining fuel prices.
The market opened positively, with the benchmark index climbing to 155,927.23 points in early trade. Investor confidence strengthened after reports that the United States shared a 15-point proposal with Iran via Pakistan to end the ongoing conflict.
Prime Minister Shehbaz Sharif emphasized Pakistan’s support for diplomatic efforts to end the conflict, stating that the country stands ready to host meaningful talks for a comprehensive settlement.
Global markets also reflected optimism, with S&P 500 futures up 0.9% and European futures rising 1.2%. Brent crude fell around 6% to $98.30 per barrel, signaling expectations of improved oil supply flows following de-escalation prospects. Equity markets in Australia, South Korea, and Japan gained approximately 2%, while gold prices rose 1.6%.
Related stories:
