- Pakistan's KSE-100 Index surged nearly 14,000 points on US-Iran ceasefire news
- Index hit 165,564.5 points, marking its biggest intraday gain in absolute terms
- Ceasefire includes US halting attacks and Iran reopening Strait of Hormuz
Pakistan's benchmark KSE-100 Index logged its biggest-ever intraday gain in absolute terms on Wednesday, surging nearly 14,000 points after reports of a ceasefire between the United States and Iran boosted investor sentiment.
The index jumped 12,362.38 points, or 8.15%, to 164,035.83 by 9:37 AM (PKT), prompting a temporary halt in trading in line with regulations at the Pakistan Stock Exchange. The rally later extended when trading resumed, with the benchmark rising 13,785 points, or 9.09%, to trade at 165,458.77 around 2:36 PM (PKT), reflecting broad-based buying across sectors.
At 2:29 PM (PKT), the index was up 13,884.49 points, or 9.15%, at 165,564.5.
Also Read: RBI MPC Decision: Central Bank Pegs FY27 CPI Inflation Projection At 4.6% Amid Risk Outlook
The surge follows confirmation of a temporary two-week ceasefire between the US and Iran, which was mediated by Pakistan. Under the arrangement, Washington agreed to suspend military operations, while Tehran committed to reopening the Strait of Hormuz, a key global oil and shipping route.
US President Donald Trump said he would “suspend the bombing and attack of Iran for a period of two weeks,” conditional on Iran ensuring the “complete, immediate, and safe” reopening of the strait, according to international media reports.
Iranian Foreign Minister Abbas Araghchi confirmed that Tehran would allow safe passage through the Strait of Hormuz for the same period, reports said.
The sharp rebound comes after heightened volatility in recent sessions amid escalating geopolitical tensions in West Asia. On April 7, the index had ended modestly higher by 465.64 points after a choppy session, as investors remained cautious ahead of a US deadline for Iran's response.
Earlier in the conflict, the market had seen steep losses. On March 2, the benchmark plunged 16,089 points, or 9.57%, marking its sharpest single-day fall, following reports of the assassination of Iran's Supreme Leader Ali Khamenei.
The ceasefire is aimed at creating space for negotiations between the US and Iran, with talks expected to be held in Islamabad. Pakistan Prime Minister Shehbaz Sharif said the ceasefire would take effect immediately and that discussions would seek a “conclusive agreement.”
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
