KSE-100 index surges to 170,179.03 points after registering a rise of 4,544.19 points or 2.74%
\n KARACHI
\nThe Pakistan Stock Exchange (PSX) rallied sharply on Wednesday, with the benchmark KSE-100 Index gaining over 4,000 points as investor sentiment strengthened on optimism surrounding potential US-Iran talks. US President Donald Trump has said negotiations between US and Iranian officials could resume in Pakistan in the next two days and Vice President JD Vance, who led weekend talks last week that ended without a breakthrough, said he felt positive about where things stood.
\n\u201cI think you\u2019re going to be watching an amazing two days ahead,\u201d Trump told ABC News reporter Jonathan Karl, adding he did not think it would be necessary to extend a two-week ceasefire that ends on April 21. KSE-100 index, the benchmark of the PSX, surged to 170,179.03 points after registering a rise of 4,544.19 points or 2.74%, up from the previous close of 165,634.84 points.
\nAhfaz Mustafa, CEO of Ismail Iqbal Securities, told Geo.tv: \u201cThe expectations of the Middle East conflict resolving by the weekend, and lower oil prices have given new confidence to investors.\u201d \u201cThis, coupled with Saudi deposits, and an overall feel-good sentiment due to Pakistan taking centre stage, is fueling the rally,\u201d the analyst added.
\nArif Habib\u2019s Ahsan Mehnti said that the stocks staged a sharp recovery as investors weighed a second round US-Iran peace talks and Trump affirmed that the war was very close to being over. \u201cSurging global equities, $3bn expected receipt for financial support from KSA played catalyst role in bullish activity at PSX,\u201d he added.
\nSaudi Arabia will provide $3 billion in additional support for Pakistan to help the South Asian nation bridge a multibillion-dollar gap in its finances linked to an upcoming debt repayment to the United Arab Emirates. The extra funding for Pakistan comes on top of Riyadh extending the rollover arrangement for an additional $5 billion deposit for a longer period, Pakistan Finance Minister Muhammad Aurangzeb told reporters in Washington.
\nUnder Pakistan\u2019s $7 billion IMF programme, the country is targeting foreign exchange reserves of more than $18 billion by June. \u201cSenator Aurangzeb said this support comes at a critical time for Pakistan\u2019s external financing needs and would help reinforce foreign exchange reserves and strengthen the country\u2019s external account,\u201d the finance ministry said in a statement. <\/p>\n","protected":false},"excerpt":{"rendered":"
KSE-100 index surges to 170,179.03 points after registering a rise of 4,544.19 points or 2.74% KARACHI The Pakistan Stock Exchange (PSX) rallied sharply on Wednesday, with the benchmark KSE-100 Index gaining over 4,000 points as investor sentiment strengthened on optimism surrounding potential US-Iran talks. US President Donald Trump has said negotiations between US and Iranian […]<\/p>\n","protected":false},"author":2,"featured_media":505883,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-542064","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\n