ISLAMABAD: The Pakistan Stock Exchange (PSX) gained more than 4,500 points on Friday, with analysts attributing the jump to an extended ceasefire between Pakistan and Afghanistan.
The rally reflected renewed investor confidence after weeks of uncertainty over cross-border tensions, which had weighed on investor sentiment and triggered a market downturn of over 5,000 points earlier this month.
The benchmark KSE-100 index gained 4,898.86 points, or 3.13 percent to close at 161,631.73 points, compared to the previous close of 156,732.87.
The development came a day after Pakistan and Afghanistan agreed in Istanbul to extend a ceasefire, following the worst border clashes between the two countries in years that killed dozens. Islamabad says Kabul shelters anti-Pakistan militants, an allegation the Afghan authorities deny.
Topline Securities, a Karachi-based market research firm, said the trading value and volume for the day stood at 941 million shares and Rs41.84 billion ($148.85 million).
