Shafaqna Pakistan: Bullish momentum continued at the Pakistan Stock Exchange (PSX) on Thursday, with the benchmark KSE-100 Index surging nearly 3,100 points during intraday trading.
The index rose to 178,378.43 points, gaining 3,092.65 points, or 1.76%, after closing at 175,285 points in the previous session.
The rally follows Wednesday’s strong recovery, as investors returned to the market and bought shares at lower valuations, helping the benchmark recoup part of the heavy losses recorded earlier in the week.
On Tuesday, the KSE-100 Index had plunged by 6,408.23 points as renewed military tensions between the United States and Iran triggered panic selling. Investors were concerned that the escalating conflict could disrupt energy supplies through the strategically important Strait of Hormuz, weighing heavily on market sentiment.
Market analysts attributed the rally to easing geopolitical concerns after US President Donald Trump signalled that Iran was interested in negotiating with Washington. Speaking on Wednesday, Trump said Tehran was keen to reach a settlement, raising hopes that diplomatic efforts could help reduce regional tensions.
Source: Dunya News
