KARACHI – Pakistan Stock Exchange (PSX) on Monday opened on a positive note as investor sentiment improved following developments regarding possible diplomatic engagement between the United States and Iran.
The benchmark KSE-100 index gained 2,021.05 points, or 1.15 percent, reaching 178,115.16 during trading. The market recorded an intraday high of 178,985.94 and a low of 178,045.68.
Trading activity remained strong, with 56.7 million shares changing hands. The total traded value stood at Rs5.27 billion, while the previous close was recorded at 176,094.11.
The upward movement came after US President Donald Trump said talks with Iran would take place on Monday. Trump had earlier announced that a planned military strike against Iran was being halted to allow diplomatic efforts aimed at reaching an agreement.
The discussions are expected to focus on easing tensions, including issues related to the Strait of Hormuz and Iran’s nuclear programme.
Market participants viewed the possibility of diplomatic progress as a positive signal, with hopes that reduced geopolitical tensions could support global economic stability and improve investor confidence.
Speaking to reporters while returning from New Jersey to Washington, Trump said the United States and Iran would hold important talks on Monday afternoon.
However, he did not disclose the location of the negotiations or identify the participants. He also declined to set a deadline for reaching a possible agreement, saying he preferred a diplomatic solution over military conflict because wars result in significant loss of life.
Earlier, Trump wrote on his social media platform, Truth Social, that Iran, Saudi Arabia, the United Arab Emirates and Qatar had asked the United States to delay military action to allow for the immediate reopening of the Strait of Hormuz and to pursue an agreement on Iran’s nuclear programme.
According to a foreign news agency, Trump has maintained a tough stance on Iran for several months and has repeatedly warned of possible military action. However, each time, military plans have been postponed to provide additional opportunities for diplomacy.
