\u201cStocks showed recovery as investors weigh Israel-Iran ceasefire talks,\u201d says expert
\n karachi
\nThe bourse continued its bullish momentum on Wednesday as investor sentiment remained upbeat amid easing geopolitical tensions and strengthening domestic indicators.
\nThe Pakistan Stock Exchange\u2019s (PSX) benchmark KSE-100 Index closed at 122,761.64, up 515.01 points, or 0.42%, from the previous close of 122,246.63.
\nDuring the session, the index climbed to an intraday high of 123,256.55, gaining 1,009.92 points, or 0.83%, and touched a low of 122,168.76, reflecting a marginal fall of 77.87 points, or -0.06%.
\n\u201cStocks showed recovery as investors weigh Israel-Iran ceasefire talks,\u201d said Ahsan Mehanti, Managing Director and CEO of Arif Habib Commodities.
\n\u201cSurging global equities, deliberations over privatisation of SOEs, strong rupee and government resolve over circular debt management plan played a catalyst role in bullish activity at PSX,\u201d he added.
\nInvestor confidence also drew support from a fresh $350 million financing agreement between Pakistan and the Asian Development Bank (ADB), aimed at boosting women\u2019s financial inclusion and entrepreneurship.
\nSigned by Additional Secretary of the Economic Affairs Division Sabina Qureshi and ADB\u2019s Dinesh Raj Shiwakoti, the package includes a $300 million policy-based loan and a $50 million Financial Intermediary Loan (FIL) signed by the State Bank of Pakistan.
\nConsumer sentiment has also improved notably. The latest edition of the Pakistan Consumer Confidence Index (CCI) \u2014 a joint initiative by Dun & Bradstreet and Gallup Pakistan \u2014 showed a 9.2% quarter-on-quarter increase and a 24.6% year-on-year improvement.
\nThe index rose to 96.2 points from the previous quarter\u2019s 88.1, reflecting growing optimism in household financial outlooks and expectations for economic recovery.
\nMeanwhile, global oil markets cooled off significantly, easing inflationary concerns. Brent crude fell 5.2% to $67.75 per barrel, while WTI dropped 5.4% to $65.01 after Israel accepted US President Donald Trump\u2019s ceasefire proposal with Iran, bringing a temporary halt to the 12-day conflict.
\nOn Tuesday, the KSE-100 Index had surged by 6,079.17 points, or 5.23%, to close at 122,246.64. It had touched a high of 122,725.21 and a low of 120,369.54 during the session, marking the second-largest single-day point gain in the index\u2019s history.<\/p>\n","protected":false},"excerpt":{"rendered":"
\u201cStocks showed recovery as investors weigh Israel-Iran ceasefire talks,\u201d says expert karachi The bourse continued its bullish momentum on Wednesday as investor sentiment remained upbeat amid easing geopolitical tensions and strengthening domestic indicators. The Pakistan Stock Exchange\u2019s (PSX) benchmark KSE-100 Index closed at 122,761.64, up 515.01 points, or 0.42%, from the previous close of 122,246.63. […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-486590","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n