Summary PSX rebounds 1,774 points as Trump halts Iran strike, easing tensions; investors remain cautious after UAE drone strike, while global markets show mixed reactions
KARACHI (Dunya News) – Pakistan Stock Exchange (PSX) rebounded on Tuesday as US-Iran escalation eases following Donald Trump’s decision of halting the planned attack on Iran.
During early session, the KSE-100 index benchmark gained 1,773.78 points or 1.1 percent to climb to 163,578.80 points compared to previous close of 161,805.
On the other hand, global shares were on shaky footing on Tuesday and bonds steadied following a steep selloff after US President Donald Trump paused a planned attack on Iran and claimed there was a good chance of a nuclear deal, sending oil prices lower.
Trump said on Monday he had paused an attack against Iran to allow time for negotiations to take place on a deal to end the war, after Tehran sent a new peace proposal to Washington.
He subsequently said there was a "very good chance" the U.S. could reach an agreement with Iran to prevent Tehran from obtaining a nuclear weapon.
Investors still remained cautious after being rattled in the previous session by a weekend drone strike in the United Arab Emirates.
