ISLAMABAD: The Pakistan Stock Exchange (PSX) on Tuesday witnessed a strong recovery amid a reported ceasefire between Israel and Iran, traders and analysts said.
On Monday, United States (US) President Donald Trump said on social media that Israel and Iran had agreed to a “complete and total ceasefire” to be phased in over 24 hours.
The benchmark KSE-100 index surged by 6,079 points, or 5.23 percent, to close at 122,246 points on Tuesday afternoon, compared to the previous day’s close of 116,167 points.
“Stocks closed near all-time high after Iran, Israel agreed to a ceasefire receding fears of escalation in the Middle East tensions,” Ahsan Mehanti of Arif Habib Corporation told Arab News.
“Upbeat economic data on cement sales for Jul-May’25, bull run in global equities and receding fears over high inflation, impact on exports for supply disruptions over Middle East conflict played a catalyst role in the record bullish close.”
