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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...
Coach Graham Arnold challenged his players to “shock the world” after Iraq became the 48th and final team to qualify for the World Cup with a nerve-shredding 2-1 win over Bolivia in an intercontinental playoff in Mexico on Tuesday. Iraq, whose preparations were disrupted by the war in the Middle East, sealed their first appearance at the finals in 40 years and will play in Group I against France, Senegal and Norway. Goals from Ali Al-Hamadi and Aymen Hussein secured a famous win for Iraq, whose last appearance at the World Cup came at Mexico in 1986. “With everything going on in the Middle East at the moment it made it harder for the players,” said the Australian Arnold, who had initially sought to have the fixture postponed due to the disruption caused by the conflict. “Delighted for the players, very good boys, very happy for the 46 million Iraqis,” he added. “Hopefully, it will help change the perception of Iraq and the football in Iraq. Doing something in the World Cup nobody expects us to do. “Let’s shoc...8986 items