KARACHI: Pakistan’s stock market halted trading on Wednesday after a sharp rally pushed a key index up more than 5%, triggering an automatic suspension.
The benchmark KSE-30 index, which tracks 30 highly liquid stocks, rose 5.02% to 156,204.89 points. It gained 7,461.58 points from the previous close.
The surge prompted the Pakistan Stock Exchange (PSX) to suspend trading across equity markets under its regulations.
Trading stopped at 12:03 p.m. local time. The exchange scheduled a reopening after a mandatory cooling-off period.
PSX said the market halt was triggered after the KSE-30 index crossed the 5% threshold. It added that the system automatically canceled all outstanding orders.
Analysts said the rally was driven by geopolitical optimism. Markets reacted to developments in the Middle East following recent tensions involving the United States, Israel, and Iran.
Samiullah Tariq, head of research at Pakistan Kuwait Investment Company, said investors expected U.S. President Donald Trump to announce an end to the conflict. He described the rally as driven by geopolitical factors.
Trump said on Tuesday that U.S. forces would end operations in Iran “very soon.” He indicated a timeline of two to three weeks while continuing talks with Iranian authorities.
Trading resumed after more than an hour following the mandatory halt period.
