KSE-100 Index Gains Over 1,300 Points in Early Trading
KARACHI: The Pakistan Stock Exchange (PSX) continued its upward momentum on Tuesday, with the benchmark KSE-100 Index rising more than 1,300 points during the opening minutes of trading as investor confidence remained strong following recent economic and geopolitical developments.
By 9:50am, the KSE-100 Index had climbed to 178,374.04 points, reflecting a gain of 1,334.22 points, or 0.75 percent.
Broad-based buying emerged across several major sectors, including automobile assemblers, chemicals, commercial banks, oil and gas exploration companies, oil marketing firms and refineries. Moreover, heavyweight stocks such as OGDC, PPL, POL, MARI, ARL, PSO, HBL, MCB and MEBL traded firmly in positive territory.
The gains followed Monday’s historic rally, when the benchmark index surged by 4,639.93 points, or 2.69 percent, to close at 177,039.83 points.
Budget Measures and Global Developments Fuel Optimism
Analysts attributed the market’s strong performance to positive investor sentiment generated by the federal budget and reports of a preliminary understanding between the United States and Iran.
Consequently, concerns regarding disruptions to global oil supplies eased, while expectations of improved economic stability encouraged fresh investment across multiple sectors.
Furthermore, declining fears of prolonged geopolitical uncertainty strengthened risk appetite, supporting continued buying activity at the PSX.
Global Markets Turn Cautious Ahead of Central Bank Decisions
Meanwhile, Asian markets adopted a more cautious tone after Monday’s rally. Investors shifted their focus toward upcoming central bank decisions, including expectations of a potential interest rate increase by the Bank of Japan.
Additionally, Brent crude futures edged slightly higher to $83.25 per barrel after reaching a three-month low. However, shipping companies in Asia and Europe indicated that restoring confidence in transit through the Strait of Hormuz could take several weeks.
Across the region, stock performance remained mixed. Japan’s Nikkei 225 slipped 0.3 percent, while broader Asian indices traded largely flat as investors reassessed the implications of the recent US-Iran agreement and its broader regional impact.
