PSX surges 4,000 points amid Iran-US diplomacy hopes
KSE-100 climbs 4,544 points as peace talks, Saudi support and falling oil prices lift Pakistan's market mood
Pakistan Stock Market – (Web Desk) – Pakistan’s stock market had a strong Wednesday — and hopes for peace in the Middle East deserve much of the credit.
The KSE-100 Index, the main measure of the Pakistan Stock Exchange (PSX), jumped by 4,544 points — or about 2.74% — closing at 170,179 points, up from 165,634 the day before. That is a gain of over 4,000 points in a single session, and investors had plenty of reason to feel good about it.
The mood was lifted by fresh signals that the United States and Iran may be close to resuming peace talks — possibly right here in Pakistan, within the next couple of days. US President Donald Trump said negotiations could pick up soon, and struck an upbeat note. “I think you’re going to be watching an amazing two days ahead,” he told ABC News. He also suggested there would be no need to extend the current ceasefire, which is due to expire on April 21.
Vice President JD Vance, who headed last weekend’s talks that did not produce a deal, also sounded encouraged, saying he felt good about the direction things were heading.
Market experts echoed that optimism. Ahfaz Mustafa, CEO of Ismail Iqbal Securities, told Geo.tv that the prospect of the Middle East conflict winding down by the weekend — combined with falling oil prices — had given investors a fresh burst of confidence.
“This, coupled with Saudi deposits, and an overall feel-good sentiment due to Pakistan taking centre stage, is fueling the rally,” the analyst added.
Saudi 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.
Saudi Arabia pledges $3 billion support for Pakistan
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.
Under Pakistan’s $7 billion IMF programme, the country is targeting foreign exchange reserves of more than $18 billion by June.
“Senator Aurangzeb said this support comes at a critical time for Pakistan’s external financing needs and would help reinforce foreign exchange reserves and strengthen the country’s external account,” the finance ministry said in a statement.
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