KARACHI (Dunya News) – The Pakistan Stock Exchange (PSX) continued its bullish run on Wednesday, as easing geopolitical tensions and falling oil prices boosted investor confidence.
The KSE-100 index surged 1,559.95 points in early trading, climbing to 155,526.31 — a gain of 1.01% from Tuesday’s close of 153,966.36 points.
Meanwhile, oil prices fell around 4% on Wednesday on the prospect of a possible ceasefire easing supply disruptions from the key Middle East producing region after reports the U.S. sent Iran a 15-point plan to end the war between them.
Brent crude futures fell $4.89, or 4.7%, to $99.60 a barrel by 0335 GMT, after declining to as low as $97.57. U.S. West Texas Intermediate (WTI) crude futures were down $3.54, or 3.8%, at $88.81 a barrel, after falling to as low as $86.72.
Both benchmarks rose nearly 5% on Tuesday, before paring gains in volatile post-settlement trading.
A day earlier, the benchmark KSE-100 index surged by more than 1,200 points on Tuesday, marking a strong recovery following the Eid holidays.
The index rose by 1,225.99 points, or 0.80 per cent, to close at 153,966.36, compared to the previous close of 152,740.37. During the session, the market reached an intraday high of 157,442.68 before retreating to settle well below its peak.