As trading commenced in the morning, the KSE-30 index rallied sharply, which sparked a market halt after crossing the 5% threshold, in accordance with the PSX regulations. In an announcement, the bourse stated that a 5% rise in the KSE-30 triggered a temporary halt, leading to suspension of trading in all equity markets and cancellation of outstanding orders.
Following resumption of proceedings at 10:42 am, the rally continued, where the KSE-100 index climbed to 164,974, up 13,300 points (+8.77%), building on an earlier peak of 164,036 (+8.15%) at 9:57 am. By the close, the market posted substantial gains of 14,137.55 points, or 9.32%, and settled at 165,811.01.
“The KSE-100 opened sharply higher by 12,920 points (+8.5%), tracking a significant improvement in the external backdrop. Sentiment turned decisively positive after the US and Iran agreed to a Pakistan-brokered ceasefire, with talks set to take place in Islamabad on April 10, triggering a 15-16% drop in global oil prices as risk premium eased. This led to a market halt as the KSE-30 stayed above 5% for five minutes,” KTrade Securities equity trader Ahmed Sheraz told The Express Tribune.
He added that improving Pakistan-Afghanistan ties, with Chinese assistance, and stable macro indicators including a $1.43 billion Eurobond repayment and steady reserves/remittances reinforced investor confidence, alongside commitment of support from the Asian Development Bank (ADB).
The near-term direction hinges on the outcome of US-Iran talks as sustained de-escalation could keep oil prices soft and support market momentum, Sheraz anticipated.
Arif Habib Limited (AHL) observed that a remarkable and memorable chapter had been written in Pakistan’s history as it brokered a two-week ceasefire and the first round of talks between the US and Iran on an agreement to end the war was slated for Friday in Islamabad.
On this eventful moment, 100 shares rose and nothing fell with Fauji Fertiliser (+10%), United Bank (+10%) and Engro Holdings (+10%) contributing the most to the index gains. The 9.32% day-on-day surge was the second largest, eclipsed only by the 9.45% gain following the end of Pakistan-India war in May 2025. In terms of the US dollar, the KSE-100 gained 9.1%; the biggest move globally, it said.
Wednesday’s rally regained the October 2025 lows and the 200-day moving average, which were the key levels “we had been looking for to signal that a durable bottom is in place”, AHL said.
Topline Securities CEO Mohammed Sohail commented that Pakistan equities roared back as the KSE-100 soared over 14,000 points (+9%) – one of the biggest single-day gains ever – on the back of US-Iran ceasefire and cooling oil prices. “Momentum was widespread as 130+ stocks hit the 10% upper cap, reflecting a powerful return of risk appetite,” he said.
“It was a remarkable session at the PSX, with the market posting strong gains, as investors welcomed news of a two-week ceasefire between the US and Iran,” JS Global analyst Nawaz Ali wrote. He added that the benchmark KSE-100 index surged 14,138 points (+9.3%) to close at 165,811. Broad-based buying was observed, with major contribution coming from Fauji Fertiliser, UBL, Engro Holdings, Hub Power and Oil and Gas Development Company. He expected the bullish momentum to continue, although some profit-taking may emerge at higher levels.
Overall trading volumes jumped to 1.25 billion shares against Tuesday’s tally of 357.3 million. The value of traded shares stood at Rs54.4 billion.
Shares of 491 companies were traded. Of these, 448 stocks closed higher, 16 dropped and 27 remained unchanged.
First National Equities was the volume leader with trading in 212.3 million shares, gaining Rs0.42 to close at Rs1.58. It was followed by K-Electric with 127.3 million shares, rising Rs0.97 to close at Rs7.96 and WorldCall Telecom with 97.3 million shares, up Rs0.15 to close at Rs1.36.
During the day, foreign investors sold shares worth Rs1.79 billion, the National Clearing Company reported.