PSX sees strong recovery as KSE-100 gains over 3,200 points
Business
PSX surged over 3,200 points on Friday, with KSE-100 Index hitting 185,551, as regional tensions eased after Trump hinted at avoiding military action against Iran.
KARACHI (Dunya News) – The Pakistan Stock Exchange (PSX) witnessed a significant surge on Friday a day after it witnessed a bloodbath due to geopolitical tensions.
During intraday trading, the market soared by over 3,200 points, with the benchmark KSE-100 Index reaching 185,551.52 points.
The positive momentum comes as regional tensions eased after US President Donald Trump said he hoped to avoid military action against Iran, which has threatened to strike American bases and aircraft carriers in response to any attack.
Trump said he is speaking with Iran and left open the possibility of avoiding a military operation after earlier warning that time was "running out" for Tehran as the United States sends a large naval fleet to the region.
When asked if he would have talks with Iran, Trump told reporters: "I have had, and I am planning on it."
A day earlier, the benchmark KSE-100 Index witnessed bearish trend and closed sharply lower, shedding 6,042.27 points, a decline of 3.21 percent, to close at 182,338.12 points compared to 188,380.39 points on the previous trading day, according to PSX data.
During the session, the ready market recorded a trading volume of 933.099 million shares with a traded value of Rs 66.413 billion, against 953.917 million shares valuing Rs 48.878 billion in the previous session.
Out of 487 active companies in the ready market, 83 advanced, 364 declined, while 40 remained unchanged.
