India did not get support from the United States, which led to a strong reaction in the Pakistan Stock Market. Trading started with a sharp rise, and the KSE-100 Index went up by almost 3,000 points.

By 10am, the index stood at 113,800, marking a gain of 1,989.99 points or 1.79%.

Strong buying interest was seen across various key sectors, including automobile manufacturing, cement, chemicals, banking, oil and gas exploration, oil marketing companies, power generation, and refineries. Major stocks such as ARL, PRL, HUBCO, PSO, MARI, OGDC, PPL, HBL, and NBP were all trading in positive territory.

Analysts linked the sharp rally to rising hopes of easing geopolitical tensions between Pakistan and India, boosting investor confidence and market activity.

Globally, Asian stock markets and US futures saw gains on Friday, boosted by hopes of renewed trade negotiations between the US and China.

This uplift in investor sentiment came despite disappointing earnings reports from tech giants Apple and Amazon, which had sparked concerns over the effects of tariffs.

Meanwhile, oil prices climbed after former President Donald Trump threatened to impose secondary sanctions on Iran. Brent crude futures rose by 0.56%, while US West Texas Intermediate crude futures increased by 0.6%.

On Wednesday, US Secretary of State Marco Rubio called on India and Pakistan to cooperate in easing tensions following last week’s militant attack in Indian-occupied Jammu and Kashmir (IIOJK).