ISLAMABAD (PEN) : Building on Tuesday’s strong surge, the buying momentum at the Pakistan Stock Exchange (PSX) extended into Wednesday morning, with the benchmark *KSE-100 Index rising by more than 900 points* in early trading hours.
At 10:20 a.m., the index stood at *123,166.23, marking an increase of **919.60 points (0.75%)* from the previous close. The uptick was broadly supported by gains in key sectors including automobile assemblers, commercial banks, fertiliser companies, oil and gas exploration firms, oil marketing companies (OMCs), and refineries. Heavyweights such as *NRL, MARI, PPL, SSGC, MEBL, NBP, and UBL* traded in positive territory.
Tuesday’s Historic Surge
On Tuesday, the KSE-100 Index soared by *6,079 points (5.23%), closing at a record **122,246 points—its second-largest single-day point gain. The rally was largely fueled by investor optimism following a ceasefire agreement between **Iran and Israel*, which eased geopolitical tensions.
Global Market Context
Asian stock markets showed stability on Wednesday amid crude oil prices hovering near multi-week lows. The ceasefire news boosted sentiment, though concerns about renewed hostilities linger. The US dollar remained near a four-year low against the euro, while two-year US Treasury yields declined to 1.5-month lows, partly due to lower oil prices reducing inflationary risks.
Despite the ceasefire holding so far, Israel has stated it will respond decisively to Iranian missile strikes that followed US President Donald Trump’s announcement ending hostilities. Meanwhile, a preliminary US intelligence report contradicted Trump’s earlier claim, suggesting that US airstrikes only delayed Iran’s nuclear program by a few months rather than destroying it.
In the broader Asia-Pacific region, Japan’s Nikkei and Australia’s main stock index were flat, Taiwan’s benchmark rose by 1%, Hong Kong’s Hang Seng gained 0.6%, and mainland China’s blue-chip stocks slipped 0.1%. US stock futures remained largely unchanged. An MSCI index of global equities held steady after reaching a record high overnight.
