Led by me cease, PSX increases over 6,000 points

Karachi:

The Pakistani Stock Exchange (PSX) raised more than 6,000 points on Tuesday, as US President Donald Trump announced the ceasefire between Israel and Iran, ending hostilities in the Middle East.

The KSE-100 reference index increased in the countryside, where its potential led to the intra-1 high of 122,725, up 6,557 points. As the session proceeded, investor confidence was strengthened, culminating in the KSE-30 index that hit its upper switch-a rare and historic moment that sent a wave of excitement.

At the end of the negotiation, the KSE-100 index recorded an increase of 6,079.17 points or 5.23%and settled at 122.246.64.

According to world analyst JS Mubashir Anis Naviwala, the PSX has increased as the ceasefire in the Middle East triggered a market spree. “Just seconds after the market was finished, the KSE-100 index increased over 6,500 points, causing wide euphoria,” he said.

Bullish Sentiment dominated the whole session, pressing the index at a high of 122.725. Investors jumped in all sectors, encouraged by signs of geopolitical escalation.

“The short -term prospects remain positive, with new opportunities in areas of cement, banks and fertilizers,” the analyst added.

In its revision, Topline Securities commented that the local stock market opened with a stroke as investors cheered the discovery of a ceasefire agreement between Israel and Iran, which brought a welcome cessation of increasing geopolitical tensions in the region.

Driving to this wave of optimism, the KSE-100 index increased to the Open, dating to a 4,202-point jump from the previous closure. The convenient momentum was intensified as the session proceeded, culminating in a historic moment, when the KSE-30 index hit its upper switch-a very rare achievement, Topline said.

The KSE-100 index continued to publish the high of 6,557 points, before it was installed at 122,246, up to 6,079 points, or 5.23%, for the day. It was a remarkable session that reflected the refurbished trust of investors and a wider feeling of danger that returned to the market, he added.

Total trading volumes increased to 804.8 million shares compared to Monday’s 595 million. The value of the shares traded was 37.6 billion Rs. The shares of 477 companies were negotiated. Of these, 407 stocks closed higher, 35 fell and 35 remained unchanged.

WorldCall Telecom was the volume leader with a 65.4 million shares, earning Rs0.11 to close in Rs1.46. K-Electric followed with 54.3 million shares, winning RS0.35 to close on RS5.24 and Cnergyico PK with 37.9 million shares, earning RS0.53 to close on RS7.16.