
The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index continued its bullish momentum on Wednesday, surging by over 6,700 points as investors appeared hopeful of de-escalation in the Middle East. The KSE-100 index climbed by 6,768.25 points, or 4.55 per cent, to close at 155,511.56 from the previous close of 148,743.31. The market fluctuated between an intraday low of 151,262.76 points at opening and surged by 8,603.86 points to reach an intraday high of 157,347.17 at 1:13pm. AKD Securities Ltd said the KSE-100 was eyeing recovery on “rising hopes of Middle East de-escalation”. “KSE-100 index is expected to rebound after recording its worst monthly performance in March 26 in the past six years, as the likelihood of de-escalation in the Middle East conflict increases,” it noted. Arif Habib Ltd highlighted China and Pakistan’s joint call for an immediate ceasefire in the Iran war, noting that “additional news flow has also been positive with regards to de-escalation”. “Further positive news flow will drive...