PSX jumps over 4,000 points as US, Iran reach peace deal

KARACHI – The Pakistan Stock Exchange (PSX) opened the week with strong gains as the US and Iran have reached a peace deal, lifting the investor confidence. During the opening session, the KSE-100 index gained 4,280.07 points to climb to 176,679.97 point, reflecting a positive change of 2.48 percent compared to previous close of 172,399.90. The United States and Iran have reached a peace deal as both sides have declared the immediate and permanent termination of military operations on all fronts, including in Lebanon. Pakistan Prime Minister Shehbaz Sharif announced the development on social media platform X, stating: “Following intensive talks, we are pleased to announce that the Peace Deal between the United States of America and Islamic Republic of Iran has been REACHED”. The premier said the official signing ceremony will be on Friday, 19 June in Switzerland. “We would like to thank the United States of America and the Islamic Republic of Iran for their commitment to finding a diplomatic solution to the conflict. We would also like to extend our sincere appreciation to our brothers in this mediation effort, the great leadership of State of Qatar, for their support in reaching this agreement. I would also especially thank the visionary leadership of Kingdom of Saudi Arabia and Republic of Türkiye for their immense contributions in this regard,” he wrote. With the agreement now in place, mediators will facilitate a series of meetings this week. These pre-implementation discussions will lay the foundation for the technical talks and the official signing ceremony, PM Shehbaz said.