The actions in the Pakistan Stock Exchange (PSX) rose by 5759.16 points after a previous detention in the trade on Tuesday, following the president of the United States, Donald Trump, announced a stop the fire between Israel and Iran to end a 12 -day war.
The KSE-100 index rose 5759.16 points for 2:20 pm, or 4.96 percent, to reach 121,926.63 points.
Early in the day, the actions in the PSX had risen in 5,878 points a few hours after it opened. It reached a maximum previous intradic of 122,045.62 since the last closure of 116,167.47 yesterday.
Yousuf M. Farooq, research director of Chase Securities, attributed the rise to the night announcement of a high fire, with wide gains in all sectors.
Farooq said: “The Pakistan market recovered today after the night announcement of a high fire.
“However, the reports during the day of the Israeli statements that Iran have violated the damping feeling of high fire, withdrawing the market of a maximum intradic of 122,045.62 to 121,926.63 They will continue to promote the market management in the short term.
The global actions recovered and the dollar extended the decreases as high fire to end a 12 -day war between Iran and Israel, while oil prices submerged in almost two weeks to facilitate concerns about supply interruptions, Reuters reported.
At 11:26 AM, a PSX notice reported that due to an increase of 5 pieces in the KSE-30 index since the previous closure of the index negotiation day, a market stop has been activated according to PSX regulations and all markets based on shares and actions have been suspended accordingly.
The market reopened after a one -hour gap at 12:31 pm
Farooq explained: “If the KSE-30 index moves ± 5pc from the closing of the previous day and remains at that level for five consecutive minutes, trade stops for 60 minutes.”
He added that this mechanism is put into action if the index increases by 5 pieces or decreases by that margin to help cool the market.
The PSX had suffered a strong sale of the sale on Monday, since increasing geopolitical tensions in the Middle East, caused by American air attacks informed about Iranian nuclear facilities and Tehran’s threat to close the hormuk narrow, sent shock waves through global markets, causing panic and eliminate more than 3,800 points of the KSE-100 index.
The Israeli government said that he had achieved all his objectives in the war with Iran, and that he had agreed to the high fire proposed by the United States after eliminating the “existential dual threat” of the Balistic Nuclear and Balistic Missiles of Tehran. However, Israel warned that “he would respond strongly” to any Iranian violation of the truce.
Oil prices fell 5 percent after Israel agreed to the proposal.
The high fire agreement, as Trump described on social networks in a surprise position late at night, would see Arch’s enemies to stop shooting in staggered phases.
According to Trump, Iran would unilaterally stop all operations from 4 AM GMT (9 am pkt) on Tuesday, with Israel following its example 12 hours later.
After Trump’s announcement, Iran’s Foreign Minister Abbas Araghchi published on social networks that “from now on, there is no” agreement “on the high fire or the cessation of military operations.”
However, he added that if Israel stopped “his illegal aggression,” Tehran “would not intend to continue our response later.”
Additional AFP entrance.
