PSX jumps over 4,000 points as Middle East settles

Yesterday, the Pakistan Stock Exchange (PSX) declined sharply, by 3,856 points, after the Middle Eastern crisis strengthened its grip on investor sentiments. Similar trends were also witnessed across global markets. Today, the benchmark KSE-100 Index has jumped by over 4,000 points right after opening.

The development comes after US President Donald Trump announced that a ceasefire has been reached between Iran and Israel. Oil prices also began to settle, and early on Monday, Brent showed seven per cent decline.

Half an hour into trading on Tuesday, the PSX had jumped to 120,639.00 points, showing hike of 4471.53 points. The gains were widespread across the market, signalling an overall recovery in the market sentiment, in line with the global movement.

Also read: Shares cheered in Asia as Trump announces Iran-Israel ceasefire