The Pakistan Stock Exchange (PSX) continued its bullish streak on Wednesday, as the recent ceasefire between Iran and Israel helped boost investor confidence and ease regional tensions. The KSE-100 index rose by 396.47 points during intraday trading, reaching 122,643.10 with a 0.32% gain.
Just a day earlier, the index had soared by over 6,000 points in a single session, marking one of its biggest gains in recent history. Investors welcomed the truce in the Middle East, which reduced fears of further conflict and encouraged more trading activity in the market.
Trading volumes also saw a notable increase. On Tuesday, over 804 million shares were traded, compared to 595 million on the previous trading day. The total share value rose to Rs 37.6 billion, up from Rs 23.4 billion earlier, showing strong investor interest across multiple sectors.
Out of 477 companies trading at the PSX, 407 recorded gains, only 35 faced losses, and 35 remained unchanged. This strong market breadth highlighted the widespread optimism among investors following the geopolitical developments.
Meanwhile, global oil prices climbed slightly as traders reacted to the ceasefire. Brent crude rose by 85 cents to $67.99 a barrel, while U.S. WTI crude gained 87 cents to reach $65.24. However, both prices remained near recent lows, suggesting confidence in steady oil supply moving forward.
According to JP Morgan analysts, global oil markets are stabilizing due to improved geopolitical conditions. They noted that the ceasefire is helping ease supply concerns, and oil fundamentals suggest there is no immediate threat to global energy flows.