Pakistan’s equity market surged on Wednesday as investors reacted to hopes of a de-escalation in the ongoing Iran-US conflict, pushing the KSE-100 Index up nearly 7,500 points in a single session.
At 12:05 p.m., the benchmark index was at 156,204.89, gaining 7,461.58 points or 5.02% from the previous close. The rapid advance triggered a market halt, suspending all equity-based trading in line with Pakistan Stock Exchange (PSX) regulations.
“Due to a 5% increase in the KSE-30 Index from the previous trading day’s close, a Market Halt has been triggered,” the PSX said in a notice. Trading is set to resume at 1:08 p.m.
Buying momentum was broad-based, with strong activity seen in automobile assemblers, cement, commercial banks, fertiliser, oil and gas exploration, OMCs, and power generation companies.
Major index-heavy stocks such as HBL, MCB, MEBL, UBL, MARI, OGDC, PPL, POL, PSO, HUBCO, and ARL traded firmly in the green, reflecting renewed investor confidence amid easing geopolitical risks.
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