ISLAMABAD: The Pakistan Stock Exchange (PSX) maintained its upward momentum on Wednesday, as investor sentiment remained upbeat following the recently announced ceasefire between Iran and Israel.
The KSE-100 index gained 396.47 points during intraday trading, reaching 122,643.10 with a positive change of 0.32%.
This follows a massive rally on Tuesday, when the index soared by 6,079.17 points to close at 122,246.64—one of the biggest single-day gains in recent years.
Investor Sentiment Soars
Market activity remained strong as 804.7 million shares were traded on Tuesday, significantly higher than the previous day’s 595 million.
The total value of traded shares also surged to Rs. 37.61 billion, up from Rs. 23.48 billion.
Out of 477 listed companies that traded, 407 posted gains, 35 declined, and 35 remained unchanged.
Analysts attributed the bullish trend to easing geopolitical concerns in the Middle East and improving investor confidence in regional stability.
Global Oil Prices React Mildly
Oil prices rebounded slightly on Wednesday after the ceasefire, though they remained close to multi-week lows.
Brent crude rose by 1.3% to $67.99 per barrel, while US WTI crude increased by 1.4% to $65.24.
Earlier, both benchmarks had dipped to their lowest levels since early June, following Israel’s military strikes on Iranian nuclear sites.
In a client note, JP Morgan analysts said,
“Global energy prices are moderating following the Israel-Iran ceasefire. The base case for our oil strategists remains anchored by fundamentals, which indicate sufficient global oil supply.”
