Karachi: After the ceasefire between Iran and Israel in the Middle East, investor confidence in the Pakistan Stock Exchange (PSX) was restored, and the market showed a strong recovery. The market opened with an unprecedented rally of 4,000 points on the second day of the trading week.
After an initial five percent increase, trading was temporarily halted to allow the market to stabilize. When trading resumed, the rally continued, and the market closed at 122,246 points, up 6,079 points at the end of the day.
During trading, the 100 index reached a high of 122,725 points, which is being considered one of the biggest comebacks in the history of the Pakistan Stock Market. It may be recalled that the previous day, the index had closed at 116,167 points due to tensions in the region.
The credit for this strong rally is being given to the announcement of the ceasefire, which reduced investor concerns and breathed new life into the market. According to experts, if the global scenario remains stable, investor sentiment is expected to remain positive in the coming days.
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