The Pakistan Stock Exchange (PSX) extended its recovery on Thursday, with the benchmark KSE-100 Index surging by around 2,600 points in early trading as investor confidence improved.
By 11:04 a.m., the KSE-100 Index had gained 2,604.49 points, or 1.49%, to reach 177,890.27, up from the previous close of 175,285.78.
The rally follows Wednesday’s rebound after heavy losses earlier in the week triggered by geopolitical tensions in the Middle East.
Awais Ashraf, Director of Research at AKD Securities, said the market had continued its upward momentum following recent remarks by US President Donald Trump, who suggested that Iran was seeking a negotiated settlement with Washington.
“They want to settle so badly. They don’t like what we’re doing, and they do want to settle. We’ll find out whether or not we settle with them, or we just finish it off,” Trump said on Wednesday.
The comments eased investor concerns over the escalating conflict, helping fuel renewed buying interest in the local equity market.