PSX stages strong rebound, closes above 170,000 as Middle East tensions ease
The KSE-100 Index settled at 170,330.56 points, up 1,376.86 points, or 0.81 percent, according to data from the exchange
The recovery followed a sharp decline on Monday, when the index tumbled 1,525.24 points to close at 168,953.71 amid renewed attacks between Iran and Israel that pushed crude oil prices higher and fueled concerns over Pakistan’s external account and interest rate.
Investor sentiment brightened after Iran and Israel announced a halt to attacks following an appeal from U.S. President Donald Trump, although both sides warned hostilities could resume. Declining global oil prices and optimism over the upcoming FY27 federal budget, scheduled for presentation on June 12, further supported the rally.Widespread buying was recorded across major sectors, including commercial banks, cement, oil and gas exploration, power, and automobile assemblers. Out of the 100 index companies, 89 closed higher while 11 declined.
Trading volume in the KSE-100 Index stood at 209.36 million shares, with a total value of 17.07 billion rupees ($61.3 million)