PSX cheers peace with record spike

The Pakistan Stock Exchange (PSX) erupted in jubilation on Wednesday, registering its highest single-day gain of over 14,000 points (+9%) in history, as investors cheered the global peace momentum brokered by Pakistan and easing tensions between the United States and Iran. As trading commenced in the morning, the KSE-30 index rallied sharply, which sparked a market halt after crossing the 5% threshold, in accordance with the PSX regulations. In an announcement, the bourse stated that a 5% rise in the KSE-30 triggered a temporary halt, leading to suspension of trading in all equity markets and cancellation of outstanding orders. Following resumption of proceedings at 10:42 am, the rally continued, where the KSE-100 index climbed to 164,974, up 13,300 points (+8.77%), building on an earlier peak of 164,036 (+8.15%) at 9:57 am. By the close, the market posted substantial gains of 14,137.55 ...