PSX Bullish Run
The Pakistan Stock Exchange (PSX) witnessed a continued buying rally on Wednesday, with the benchmark KSE-100 Index surging by 500 points during the early trading hours. This bullish momentum marked a strong continuation of the market’s rebound following a series of losses in previous sessions.
By 10:27 AM, the KSE-100 index had climbed to 13,321.88 points, reflecting a notable increase of 578.09 points or 0.42%. The positive sentiment was driven by broad-based buying activity across multiple key sectors, indicating renewed investor confidence in the market.
Strong buying interest was observed in sectors such as automobile assembling, cement, chemicals, commercial banking, oil and gas exploration, oil marketing companies (OMCs), power generation, and refining.
Several major stocks traded in positive territory, including National Refinery Limited (NRL), Hub Power Company (HUBCO), Sui Northern Gas Pipelines Limited (SNGPL), Oil and Gas Development Company (OGDC), Pakistan Petroleum Limited (PPL), Mari Petroleum Company Limited (MARI), MCB Bank (MCB), Meezan Bank (MEBL), and United Bank Limited (UBL).
The market’s positive performance came after four consecutive bearish sessions that had seen investor sentiment weaken. However, on Tuesday, the PSX rebounded sharply, with the KSE-100 index reaching an intraday high of 890 points, marking a strong recovery. The reversal in market fortunes was fueled by increased investor participation and optimism in key sectors.
The upward trend in Pakistan’s stock market also came against the backdrop of significant global economic developments.
On Tuesday, U.S. President Donald Trump’s administration implemented hefty tariffs on international trade, imposing a 25% duty on imports from Mexico and Canada, while also doubling tariffs on Chinese goods to 20%. These protectionist measures immediately triggered responses from affected countries.
Both China and Canada announced retaliatory actions in response to the U.S. tariffs, escalating concerns over a potential global trade conflict.
Additionally, Mexican President Claudia Sheinbaum confirmed that her government would also take countermeasures, although she did not provide specific details regarding the nature of Mexico’s response.
Despite global uncertainties surrounding trade policies, the PSX demonstrated resilience, with investors showing a strong appetite for stocks across multiple industries.
The continued rally signaled renewed optimism in the local market, and analysts remained hopeful about sustained momentum in the coming days.
