Karachi: Following US President Donald Trump’s strategic announcement to temporarily halt a potential military strike on Iran, global markets as well as Pakistan’s financial and business sectors witnessed a strong positive momentum. Expectations of easing geopolitical tensions lifted investor confidence sharply in Pakistan’s stock market.
On the second trading day of the week, the market opened on a strong bullish note, with the KSE-100 Index surging by 2,248 points so far. After this significant rise, the benchmark index reached a historic level of 164,053 points. Business circles and economic analysts have termed this surge highly encouraging for the national economy and capital market outlook.
Alongside the stock market rally, the currency market also showed signs of stability, with the Pakistani Rupee strengthening slightly against the US dollar. In the interbank market, the dollar declined by 3 paisa to Rs 278.57, compared to the previous close of Rs 278.60.
It is worth noting that US President Donald Trump announced a temporary postponement of the scheduled Tuesday strike on Iran following diplomatic requests and mediation efforts by Saudi Arabia, Qatar, and the United Arab Emirates. He stated that Iran now has a crucial final opportunity to reach a deal for regional peace, leading to a temporary easing of heightened tensions in the Middle East.
Read More: Iran Submits Detailed Response as US Eases Oil Sanctions via Pakistan-Led Mediation
