KSE-100 Index surges to intraday high of 122,725.21, gaining 6,557.74 points, or 5.65%
KARACHI – The Pakistan Stock Exchange (PSX) witnessed a powerful rebound on Tuesday as news of a ceasefire between Iran and Israel, coupled with a significant drop in global oil prices, revived investor confidence and drove aggressive buying across the board.
The benchmark KSE-100 Index surged to an intraday high of 122,725.21, marking a gain of 6,557.74 points or 5.65%, while the day’s low stood at 120,369.53, still up by 4,202.06 points or 3.61%.
“The ceasefire and the subsequent plunge in oil prices have triggered the rally today,” said Ahfaz Mustafa, CEO of Ismail Iqbal Securities. “The easing geopolitical risk and falling energy costs have calmed investor nerves and encouraged market re-entry.”
Trading at the PSX was temporarily halted after the KSE-30 Index rose more than 5%, triggering the mandatory one-hour cooling-off period. Normal trading resumed at 12:31 pm.
The rally followed an announcement by U.S. President Donald Trump late Monday, confirming a temporary truce between the two warring Middle Eastern nations.
“It has been fully agreed by and between Israel and Iran that there will be a Complete and Total CEASEFIRE… for 12 hours, at which point the War will be considered, ENDED!” Trump posted on Truth Social.
Earlier, Trump expressed optimism about peace in the region, stating that Iran had likely “gotten it all out of their system” after retaliatory missile strikes and that now was the time for “Peace and Harmony.”
Commenting on the surge, Mohammed Sohail, CEO of Topline Securities, said, “Ceasefire news and institutional buying are driving today’s rally, helping the stock market bounce back from yesterday’s heavy losses.”
The sharp recovery came a day after the PSX suffered its worst single-day decline of the year, when the KSE-100 Index plunged 3,855.77 points (3.21%) to close at 116,167.47 amid fears of escalating conflict in the Middle East.
