PSX climbs nearly 6,000 points amid announcement of Iran-Israel ‘ceasefire’

Shares at the Pakistan Stock Exchange (PSX) climbed by 6079.16 points after an earlier halt in trading on Tuesday, in the wake of US President Donald Trump announcing a complete ceasefire between Israel and Iran to end a 12-day war. The KSE-100 index climbed by 6079.16 points, or 5.23 per cent, to close at 122,246.63 points. Earlier in the day, shares at the PSX had climbed by 5,878 points a few hours after it opened. It reached an earlier intraday high of 122,045.62 from the last close of 116,167.47 yesterday, before a market halt was initiated. Yousuf M. Farooq, director of research at Chase Securities, attributed the rise to the overnight announcement of a ceasefire, with broad-based gains across sectors.