Stock Market Index KSE-100 closes around 119,000 points figure.
The Pakistan Stock Exchange (PSX) continued its upward trajectory on Thursday, bolstered by a global market rally following a U.S. court's decision to block President Donald Trump's tariffs. The benchmark KSE-100 Index concluded the session near the 119,000 level, marking an increase of 638.50 points or 0.54%.
Trading remained active throughout the day, pushing the index to an intraday high of 119,639.47. This surge reflected cautious optimism among investors as they prepared for further clarity on fiscal measures.
Across the board, major sectors recorded buying activity. Key contributors include automobile assemblers, cement, commercial banks, oil and gas exploration companies, OMCs, and power generation. Prominent index heavyweights such as HUBCO, MARI, OGDC, PPL, SNGPL, SSGC, MCB, MEBL, and NBP all closed in the green.
On the previous day, the PSX witnessed a slight recovery amid speculations surrounding the pre-budget session and hopes for a real estate package in the federal budget. These expectations caused a surge in cement stocks, lifting the KSE-100 index by 112 points or 0.09%.
The U.S. court decision has had ripples across global markets. Asian shares and Wall Street futures increased significantly in response to the ruling. The Dow Jones Industrial Average rose 55 points (0.1%), the S&P 500 improved by 0.8%, and the tech-heavy Nasdaq shot up by 1.4%.
This global market rally stemmed from the court's decision to invalidate widespread tariffs on China and many major trading partners. The ruling has provided temporary relief to investors concerned about escalating trade tensions and higher input costs. It also reduced near-term uncertainty, although the Trump administration swiftly appealed the decision, leaving the longer-term outcome of the tariffs uncertain.
In Asia, Japan's Nikkei rose by 1.7%, while South Korean shares advanced by 1.2% to a nine-month peak. MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.3%, and Chinese blue chips firmed 0.5%. Ripples were also felt in European markets, with DAX futures climbing 0.9%, FTSE futures rising 0.7%, and EUROSTOXX 50 futures increasing by 1.1%. S&P 500 and Nasdaq futures likewise experienced gains, climbing 1.6% and 1.9% respectively, buoyed by strong revenues projections from companies such as Nvidia.
- The surge in the KSE-100 Index on Thursday was partly driven by the global market rally, prompted by a U.S. court's decision to block President Trump's tariffs, affecting stocks, business, and finance.
- The technology sector, specifically the Nasdaq, witnessed a significant rise of 1.4%, reflecting a positive momentum in the tech-heavy stocks amidst the market rally.
- The business environment in Pakistan showed signs of optimism, with major sectors exhibiting buying activity, such as automobile assemblers, cement, commercial banks, oil and gas exploration companies, OMCs, and power generation, contributing to the rise of the KSE-100 Index.
- The decision by the U.S. court to invalidate widespread tariffs on China and other major trading partners has had ripple effects, causing Asian shares, Wall Street futures, and European markets to increase, providing temporary relief to investors concerning trade tensions and higher input costs.
