logo
Pakistan stocks see strong recovery as Iran-Israel ceasefire reports boost investor sentiment

Pakistan stocks see strong recovery as Iran-Israel ceasefire reports boost investor sentiment

Arab News24-06-2025
ISLAMABAD: The Pakistan Stock Exchange (PSX) on Tuesday witnessed a strong recovery amid a reported ceasefire between Israel and Iran, traders and analysts said.
On Monday, United States (US) President Donald Trump said on social media that Israel and Iran had agreed to a 'complete and total ceasefire' to be phased in over 24 hours.
The benchmark KSE-100 index surged by 6,079 points, or 5.23 percent, to close at 122,246 points on Tuesday afternoon, compared to the previous day's close of 116,167 points.
'Stocks closed near all-time high after Iran, Israel agreed to a ceasefire receding fears of escalation in the Middle East tensions,' Ahsan Mehanti of Arif Habib Corporation told Arab News.
'Upbeat economic data on cement sales for Jul-May'25, bull run in global equities and receding fears over high inflation, impact on exports for supply disruptions over Middle East conflict played a catalyst role in the record bullish close.'
Raza Jafri, head of research at Intermarket Securities Ltd., attributed the momentum to reduction in international oil prices along with settling regional tensions.
In volatile trading on Tuesday, crude futures slumped more than five percent after Trump's declaration of the Iran-Israel ceasefire.
'With valuations still shy of a long-term mean and Pakistan having recently unveiled a market-friendly budget, bullish momentum is expected to continue,' Jafri added.
On Monday, Pakistan's stocks and currency markets had tumbled as investors reacted to the US foray into the Israel-Iran conflict a day earlier.
Monday's 3.2 percent fall to 116,167 points was the worst since May 8, when the index had plunged 5.9 percent day-on-day during the India-Pakistan military standoff.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Golf Saudi partners with Five Iron Golf to expand sport across Kingdom
Golf Saudi partners with Five Iron Golf to expand sport across Kingdom

Arab News

time5 minutes ago

  • Arab News

Golf Saudi partners with Five Iron Golf to expand sport across Kingdom

RIYADH: Golf Saudi has announced a strategic partnership with Five Iron Golf — a global leader in immersive golf experiences — to launch a series of advanced indoor golf venues across Saudi Arabia. For the latest updates, follow us @ArabNewsSport The collaboration supports Golf Saudi's mission to broaden community engagement and build a sustainable, inclusive golf ecosystem in alignment with the Kingdom's Vision 2030's goals for the sports sector. The first Five Iron Golf venue is scheduled to open in Riyadh in the first quarter of 2026. Located on the ground floor of the iconic PIF Tower in the King Abdullah Financial District — one of the region's most advanced business hubs — it is set to become one of the world's most prominent indoor golf destinations, adding a new dimension to Saudi Arabia's evolving sports and entertainment landscape. Spanning approximately 1,500 sq. meters, the venue will combine Five Iron Golf's signature mix of cutting-edge technology, vibrant hospitality, and immersive design at one of the Kingdom's most prestigious addresses. Founded in New York in 2017, Five Iron Golf has grown into a global brand with over 36 sites across 16 US states and five other locations — including Dubai, India, Singapore, and Australia. The company offers simulators, professional instruction, Callaway club fittings, a global membership program, and full-service hospitality. Backed by strategic investors such as Callaway Golf and Enlightened Hospitality Investment, Five Iron is rapidly expanding through both corporate development and franchising, with over 60 locations in the pipeline. The partnership aligns with Golf Saudi's vision to expand the sport's footprint across the Kingdom by introducing modern, accessible venues that appeal to all demographics — particularly youngsters and women. Golf Saudi and Five Iron aim to deliver a comprehensive, world-class model that blends technology, hospitality, and education to welcome players of all skill levels. Noah Alireza, CEO of Golf Saudi, said: 'We're thrilled to partner with Five Iron Golf to bring one of the world's most dynamic and inclusive golf experiences to Saudi Arabia. 'This collaboration reflects our shared commitment to expanding participation, developing youth talent, and building year-round golf infrastructure. Together, we aim to create a vibrant, accessible golf ecosystem across the Kingdom, in line with Vision 2030.' Jared Solomon, the co-founder and CEO of Five Iron Golf, said: 'We believe Five Iron is more than just a place to hit balls — it's a cultural experience that has helped shape the modern face of golf. We're excited to bring our brand, energy, and commitment to inclusivity to Saudi Arabia. 'As the Kingdom builds a vibrant golf ecosystem and inspires a new generation of golfers, we're proud to be part of this momentum and contribute to its broader success story.' Golf Saudi and Five Iron Golf plan to expand the model to additional cities in the future, further accelerating the Kingdom's golf development and reinforcing its regional leadership in the sport.

NDF inks SAR 5.5B credit facilities with Riyad Bank, SAB
NDF inks SAR 5.5B credit facilities with Riyad Bank, SAB

Argaam

time5 minutes ago

  • Argaam

NDF inks SAR 5.5B credit facilities with Riyad Bank, SAB

Logo of National Development Fund (NDF) The National Development Fund (NDF) signed two credit facility agreements with Riyad Bank and Saudi Awwal Bank (SAB), at a value of SAR 5.5 billion. The facilities aim to provide more support for development projects in the Kingdom and enable its 12 development funds and banks to achieve their development goals, reinforce economic growth, and accelerate the pace of national transformation, the bank said, in a statement. It added that these partnerships represent a fundamental pillar for driving development and accelerating the achievement of the goals of Vision 2030 by supporting major projects and financing development initiatives that contribute to building a prosperous and sustainable economy for future generations.

Army says major, sepoy killed in counterterror operation in Pakistan's southwest
Army says major, sepoy killed in counterterror operation in Pakistan's southwest

Arab News

time43 minutes ago

  • Arab News

Army says major, sepoy killed in counterterror operation in Pakistan's southwest

ISLAMABAD: An army major and a sepoy were killed during an intelligence-based operation in Pakistan's southwestern Mastung district, the military's media wing said on Thursday amid Islamabad's battle against surging militancy. The latest operation took place in Balochistan's Mastung district on July 23 when security forces received reports of the presence of "terrorists" belonging to "Fitna al Hindustan," a term the Pakistani military uses for militants it says are backed by neighbor and archrival India. The military said three militants were killed during its counterterror operation. However, Major Zeeyyad Salim Awal, 31, and Sepoy Nazam Hussain, 22, were killed during the exchange of fire, the military's media wing said. "Sanitization operation is being conducted to eliminate any other Indian sponsored terrorist found in the area, as the security forces of Pakistan are determined to wipe out the menace of Indian Sponsored Terrorism from the country," the military said. "And such sacrifices of our brave men further strengthen our resolve." Pakistan's restive Balochistan province has long been the site of separatist and insurgent violence, and Islamabad has frequently alleged Indian involvement in destabilizing activities there, a charge New Delhi denies. India accuses Pakistan of training and funding militant groups in the part of disputed Kashmir that New Delhi administers. Islamabad denies the allegations and says it only extends diplomatic support to the people of Kashmir. The two countries engaged in the worst fighting between them since 1998 in May this year, pounding each other with drones, fighter jets, missiles and artillery fire before Washington brokered a ceasefire on May 10.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store