PSX gains more than 1,500 points as tensions ease and oil prices decline.

On Wednesday, the Pakistan Stock Exchange (PSX) maintained its upward trajectory as investor confidence was bolstered by declining oil prices and lessening geopolitical concerns.

The KSE-100 index gained 1.01% from Tuesday’s finish of 153,966.36 points, rising 1,559.95 points in early trading to 155,526.31.

Following reports that the United States gave Iran a 15-point plan to end their war, oil prices dropped by 4% on Wednesday due to the possibility of a ceasefire reducing supply interruptions from the crucial Middle East producing region.

After falling as low as $97.57, Brent crude futures dropped $4.89, or 4.7%, to $99.60 a barrel by 0335 GMT. After dropping as low as $86.72, U.S. West Texas Intermediate (WTI) oil futures were down $3.54, or 3.8%, to $88.81 per barrel.

On Tuesday, both benchmarks increased by around 5%, but their gains were tempered by erratic post-settlement activity.

The benchmark KSE-100 index saw a robust recovery after the Eid holidays, rising by more than 1,200 points on Tuesday.

After closing at 152,740.37, the index increased by 1,225.99 points, or 0.80 percent, to conclude at 153,966.36. The market rose to an intraday high of 157,442.68 during the session before falling to settle significantly below its peak.