Summary Pakistan Stock Exchange rises over 1,200 points amid US-Iran peace hopes; Asian stocks gain and oil stays below $100 as Middle East ceasefire impacts markets
KARACHI (Dunya News) – Pakistan Stock Exchange (PSX) on Friday opened with strong momentum amid growing hopes for a peace deal between the US and Iran.
On the fifth and final trading day of the week, the positive momentum pushed the benchmark index up by more than 1,200 points to reach 171,263 points.
The previous trading session closed at 169,911 points, reflecting a healthy upward movement in the market.
Meanwhile, Asian stocks headed for a second week of strong gains while oil prices were pinned below $100 a barrel with investors dialling back risk ahead of a crucial weekend that could pave the way for a near-term resolution to the Middle East war.
A 10-day ceasefire between Lebanon and Israel went into effect on Thursday and President Donald Trump said the next meeting between the U.S. and Iran may take place over the weekend, when their current ceasefire is due to expire.
