- Hindi News
- Business
- US Iran 2 Week Ceasefire: Pakistan Stock Market Records Historic 14,000 Point Surge | KSE 100 Jumps 9.34%
New Delhi8 minutes ago
- copy link
After the announcement of 2-week ceasefire between America and Iran, today (8 April, Wednesday) there was a record rise of 14,000 points in Pakistan’s stock market. Karachi Stock Exchange’s benchmark index Karachi 100 (KSE) closed at 165,836.05 with a rise of 14,162.58 points or 9.34%.
Following this surge, trading was temporarily halted as per the rules. This is considered to be the biggest one-day gain in the history of the KSE-100 index. Never before had such a huge rise been seen in the Karachi Stock Exchange.
Pakistan market boomed due to ceasefire
- The war that has been going on for 40 days between America and Iran has been put on pause for 2 weeks. Both the countries have agreed to this ceasefire after the mediation of Pakistan-China.
- Under the agreement, America, Israel and Iran will stop attacks on each other, and with the help of the Iranian army, safe movement of ships through the Strait of Hormuz will be ensured.
- Earlier, the US President had warned of destroying Iran. He had said that if a way was not found through the Strait of Hormuz, he would destroy the entire civilization of Iran.
The biggest fall in history occurred on March 2
Due to this, Pakistan Stock Exchange was witnessing instability for the last few weeks. The KSE-100 index closed with marginal gains on April 7.
However, on March 2, it had fallen by 16,089 points or about 9.57%. This was one of the biggest declines in its history. This decline came due to increasing tension in West Asia.
Further talks between America and Iran will take place in Pakistan
According to reports, this ceasefire has been done to open the way for talks between America and Iran. Possible talks can take place in Pakistan’s capital Islamabad.
Pakistan Prime Minister Shehbaz Sharif said that the ceasefire will come into effect immediately and the aim of the talks is to reach a final agreement.
India’s Sensex rose 2946 points and closed at 77,563.
Indian stock market also gained momentum today due to the announcement of ceasefire. Sensex closed at 77,563, up 2946 points (3.95%). Nifty is also up by 874 points (3.78%), it closed at 23,997.
Today there was more buying in auto, realty and banking stocks. Nifty’s Auto, Banking, Consumer Durables and Realty indices closed up 5%.
Asian market also remained bullish
South Korea’s Kospi index rose 6.87% to close at 5,872. Japan’s Nikkei rose 5.39% to close at 56,308. Hong Kong’s Hang Seng index closed 3.09% higher at 25,893. China’s Shanghai Composite rose 2.69% to 3,995.
Mixed business in American market on April 7
The Dow Jones fell 85 points (0.18%) to close at 46,548. Tech-based index Nasdaq Composite rose 0.098% to close at 22,017. The S&P 500 index rose 5 points (0.076%) to close at 6,616.
Read this news also…
Sensex rises 2946 points to close at 77,563: Nifty rises 874 points; There was more buying in auto, realty and banking shares
After the announcement of 2-week ceasefire between America and Iran, there was a rise in the stock market today i.e. on Wednesday, April 8. Sensex closed at 77,563, up 2946 points (3.95%). Nifty is also up by 874 points (3.78%), it closed at 23,997.
Today there was more buying in auto, realty and banking stocks. Nifty’s Auto, Banking, Consumer Durables and Realty indices closed up 5%. Read the full news…
Source link
[ad_3]
