PSX hits record high as Mideast ceasefire drives relief rally

The Pakistan Stock Exchange (PSX) closed the outgoing week on a bullish note, with the benchmark KSE-100 index surging 3.6 per cent week-on-week to settle at an all-time high of 124,379.06 points. The rally was driven by investor optimism following a ceasefire agreement between Iran and Israel, which eased geopolitical concerns and spurred aggressive pre-fiscal year-end buying. According to Topline Securities Ltd, the KSE-100 gained 4,355.83 points or 3.63pc during the week, supported by expectations of foreign inflows and reduced regional tensions. The market witnessed a sharp turnaround mid-week, with the index recording its second-largest single-day gain of 6,079 points (5.23pc day-on-day) after news of the ceasefire broke.