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ISLAMABAD: The Pakistan Stock Exchange (PSX) gained more than 4,500 points on Friday, with analysts attributing the jump to an extended ceasefire between Pakistan and Afghanistan.

The rally reflected renewed investor confidence after weeks of uncertainty over cross-border tensions, which had weighed on investor sentiment and triggered a market downturn of over 5,000 points earlier this month.

The benchmark KSE-100 index gained 4,898.86 points, or 3.13 percent to close at 161,631.73 points, compared to the previous close of 156,732.87.

The development came a day after Pakistan and Afghanistan agreed in Istanbul to extend a ceasefire, following the worst border clashes between the two countries in years that killed dozens. Islamabad says Kabul shelters anti-Pakistan militants, an allegation the Afghan authorities deny.

Topline Securities, a Karachi-based market research firm, said the trading value and volume for the day stood at 941 million shares and Rs41.84 billion ($148.85 million).

“This positivity in market was on account of news that Pakistan and the Afghan Taliban regime have agreed to maintain ceasefire following a fresh round of talks in Istanbul which was confirmed by Turkiye’s foreign ministry,” it said in its daily market review.

Topline added that United Bank Limited (UBL), Meezan Bank Limited (MEBL), Fauji Fertilizer Company Limited (FFC), Habib Bank Limited (HBL), Bank Al Habib Limited (BAHL), Systems Limited (SYS), Lucky Cement Limited (LUCK) and Bank Alfalah Limited (BAFL), contributed over 2,390 points to the index collectively.

Pakistan and Afghanistan have agreed to extend the ceasefire reached in Doha on Oct. 19 until the next round of talks, scheduled for Nov. 6 in Istanbul.

They also decided to establish a monitoring and verification mechanism to maintain peace and hold either side accountable for any violations. The negotiations are being mediated by Türkiye and Qatar.

Ahsan Mehanti, chief executive officer at Arif Habib Commodities, earlier said speculation in the earnings seasons acted as a catalyst in the bullish sentiment after the ceasefire.

“Bullish activity witnessed after reports of Pakistan, Afghanistan agreeing to maintain ceasefire in the cross-border conflict,” he told Arab News.

Pakistan has warned that the ceasefire is conditional, saying it will treat Afghanistan’s failure to act against militant hideouts as a breach of the extended truce.

QUETTA: Authorities in Pakistan’s southwestern Balochistan province ordered the suspension of 3G and 4G mobile Internet services across Quetta district on Thursday, citing “peculiar law and order” concerns and unspecified threats, according to an official notification.

The order, issued by the provincial home department, directs the suspension of all mobile data services for 24 hours on Oct. 31, from 00:00 to 24:00 hours, across the entire district.

It said the decision was taken to address a “threat perception” without providing details about the nature of the risk.
“Owing to the peculiar law and order situation and threat perceptions, the services of 3G and 4G services are required to be jammed in District Quetta,” the notification said.

Balochistan, Pakistan’s largest but poorest province, has long been plagued by an insurgency that has intensified in recent months, with separatist militants increasingly targeting security personnel, government officials, infrastructure and non-local residents.

The province is strategically significant for its vast mineral wealth and as a transit hub for the multibillion-dollar China-Pakistan Economic Corridor (CPEC), with groups like the Baloch Liberation Army (BLA) demanding independence while accusing the central government of exploiting local resources, a charge Islamabad denies.

The provincial capital of Quetta has also witnessed deadly militant attacks in the past, with a major explosion near the paramilitary Frontier Corps headquarters killing at least 10 people and injuring around 30 last month.

The notification, marked “most immediate,” was addressed to the interior ministry in Islamabad and copied to top provincial and federal officials, including the Pakistan Telecommunication Authority (PTA), police and district administration for implementation.

The mobile phone suspension comes a day after Balochistan Chief Minister Sardar Sarfaraz Bugti announced new capacity-building measures for the police and said more than 500 militants had been killed this year in the province amid escalating violence.

He said the government was consolidating specialized counterterrorism and rapid-response units under a unified police structure, while members of the paramilitary Levies Force who opted not to transfer to the police would be offered voluntary retirement with benefits.

Bugti also said the province was working to revive police morale through revised pay packages and new welfare measures for the families of officers killed in the line of duty.