MARKET
Pakistan Stock Exchange Surges Over 12,000 Points After US–Iran CeasefireThe benchmark KSE-100 Index at the Pakistan Stock Exchange witnessed a massive rally on Wednesday, gaining over 12,000 points in early trading following a two-week ceasefire agreement between the United States and Iran, reportedly facilitated by Pakistan.
At 9:37am, the index surged to 164,035.83 points, up by 12,362.38 points or 8.15%, triggering a market halt in line with PSX regulations after a sharp rise in the KSE-30 Index.
Broad-based buying was observed across key sectors including cement, banking, oil and gas, OMCs, and power generation, with major stocks trading in the green.
Market analysts attributed the rally to improved investor sentiment following easing geopolitical tensions and expectations of stable global oil flows. The ceasefire announcement by Donald Trump, welcomed by Shehbaz Sharif, also supported global markets, where equities surged and oil prices declined sharply.
Experts cautioned, however, that the sustainability of the rally would depend on further progress toward a lasting agreement between the two countries. – ER News Desk
READ MORE
Anonymous Device Signals Could Become New Police Tracking Tool
Security technology company Leonardo has developed SignalTrace, a surveillance system designed to work alongside automatic…
Spotify to Label AI-Generated Artist Profiles for Greater Transparency
Spotify Technology SA is introducing a new “AI Personas” label to identify artist profiles created…
10Pearls, Novacare Partner to Advance Digital Healthcare Infrastructure
10Pearls has entered into a strategic technology partnership with Novacare to support the development of…
Nvidia Taps Global Financial Giants for $500bn AI Infrastructure Push
Nvidia has partnered with six major financial institutions to launch compute financing platforms aimed at…
Shark surveillance robot to monitor great whites off California beaches
Researchers at California State University, Long Beach are testing a semi-autonomous robotic craft designed to…
China sees business exits in clean energy sectors as tech startups surge
China recorded an orderly exit of companies from the new energy vehicle, photovoltaic and lithium…