Pakistan Stock Exchange Surges as Tensions Ease with India
The Pakistan Stock Exchange experienced a record 9% surge on Monday, following an agreement between India and Pakistan to cease military actions. This geopolitical de-escalation restored investor confidence, prompting significant intraday gains, aided by the State Bank's interest rate cut and an IMF loan approval.
- Country:
- Pakistan
The Pakistan Stock Exchange (PSX) witnessed a remarkable 9% increase on Monday, a direct result of a diplomatic breakthrough between India and Pakistan, which brought military tensions to a halt.
The KSE-100 index showed a notable rise, starting the day with an impressive gain of 9,929.48 points, or 9.26%, closing at 117,104.11 points from the previous mark of 107,174.63.
A convergence between the two nations contributed to a rejuvenation of investor spirits, further supported by recent economic measures, including an interest rate cut by the State Bank and an International Monetary Fund (IMF) loan tranche approval.
(With inputs from agencies.)
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