PSX records biggest single-day jump of over 14,000 points

The Pakistan Stock Exchange (PSX) saw a strong rally on Wednesday after Donald Trump announced a two-week ceasefire with Iran, tied to the safe reopening of the Strait of Hormuz.

The benchmark KSE-100 Index jumped over 14,000 points, closing at 165,811.00, a rise of 14,137.55 points or 9.32%.

Buying was seen across key sectors including cement, commercial banks, oil and gas exploration, oil marketing companies (OMCs), and power generation. Major stocks such as ARL, HUBCO, MARI, OGDC, PPL, POL, MCB, HBL, and UBL all moved higher.

On Tuesday, the market had already shown some optimism, with the KSE-100 Index closing at 151,673.46 points, up 465.64 points or 0.31%, after late-session buying linked to the ceasefire news.

Global oil prices also dropped sharply on Wednesday, helping market sentiment. Brent crude fell by $14.51, or 13.3%, to $94.76 per barrel, while US West Texas Intermediate (WTI) crude dropped $17.16, or 15.2%, to $95.79 per barrel.

The ceasefire between the US and Iran and the resulting fall in oil prices boosted investor confidence, leading to a broad market rally in Pakistan.