The Pakistan Stock Exchange (PSX) rallied sharply on Wednesday, with the benchmark KSE-100 Index gaining over 4,000 points as investor sentiment strengthened on optimism surrounding potential US-Iran talks.
US President Donald Trump has said negotiations between US and Iranian officials could resume in Pakistan in the next two days and Vice President JD Vance, who led weekend talks last week that ended without a breakthrough, said he felt positive about where things stood.
“I think you’re going to be watching an amazing two days ahead,” Trump told ABC News reporter Jonathan Karl, adding he did not think it would be necessary to extend a two-week ceasefire that ends on April 21.
KSE-100 index, the benchmark of the PSX, surged to 170,179.03 points after registering a rise of 4,544.19 points or 2.74%, up from the previous close of 165,634.84 points.
Ahfaz Mustafa, CEO of Ismail Iqbal Securities, told Geo.tv: “The expectations of the middle conflict resolving by the weekend, and lower oil prices have given new confidence to investors.”
“This, coupled with Saudi deposits, and an overall feel-good sentiment due to Pakistan taking centre stage, is fueling the rally,” the analyst added.
