KARACHI – The Pakistan Stock Exchange (PSX) registered significant recovery on Tuesday after US President Donald Trump paused a planned attack on Iran at request of the Gulf leaders.
The KSE-100 index surged by 1,93645 points to climb to 163,641.47 points, reflecting a postivie change of 1.13 percent compared to previous close of 161,805.02 points.
A day earlier, the stock market remained bearish on Monday, losing 3,791.05 points, a negative change of 2.29 percent, closing at 161,805.02 points against 165,596.07 points on the last trading day following the drone attacks on the UAE and Saudi Arabia.
During the session, the ready market recorded a trading volume of 499.795 million shares with a traded value of Rs 19.438 billion, compared to 625.453 million shares valuing Rs 22.309 billion in the previous session. The market capitalization declined to Rs 17.990 trillion from Rs 18.389 trillion a day earlier.
Earlier, US President Donald Trump announced on Social Truth that a planned military attack on Iran, which was scheduled for tomorrow, has been postponed.
In a statement, Trump said he was requested to delay the operation by several Middle Eastern leaders, including the Emir of Qatar, Tamim bin Hamad Al Thani, the Crown Prince of Saudi Arabia, Mohammed bin Salman Al Saud, and the President of the United Arab Emirates, Mohamed bin Zayed Al Nahyan.
Trump indicated that the leaders believe ongoing negotiations could result in “a Deal… which will be very acceptable to the United States of America, as well as all Countries in the Middle East, and beyond.” He added that the potential agreement would include, “importantly, NO NUCLEAR WEAPONS FOR IRAN!”
In his statement, Trump said he has instructed Secretary of War Pete Hegseth, Chairman of the Joint Chiefs of Staff General Daniel Caine, and the U.S. military that the planned attack will not proceed as scheduled.
However, he emphasized that U.S. forces remain ready: “I have further instructed them to be prepared to go forward with a full, large scale assault of Iran, on a moment’s notice, in the event that an acceptable Deal is not reached.”
