The Pakistan Stock Exchange (PSX) on Thursday extended gains as hopes for a peace agreement between the US and Iran has boosted the buying rally.
During early session, the KSE-100 index surged by 2,860.47 points or 1.74 percent to reach 167,691.89 points compared to previous close of 164,831.
Earlier, President Donald Trump has stated that the United States will wait a few days for Iran’s response before finalizing a deal, warning that no relief will be provided until an agreement is reached.
Speaking to the media, Trump described Iranian negotiators as “reasonable” and claimed that Iran is eager to reach a deal due to severe economic and social distress within the country. Trump also hinted at possible military action if a deal is not reached, but emphasized there is no rush, noting that the Strait of Hormuz could be reopened.
He described Iran as suffering significant setbacks and said further developments will be observed in the coming days. Iran confirmed it has received new proposals from the US and is reviewing them.
On the other hand, Interior Minister Mohsin Naqvi is in Tehran facilitating communications between the two countries.
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