Positive Trend Observed at Pakistan Stock Exchange

The Pakistan Stock Exchange (PSX) saw positive movement as the KSE-100 Index climbed by more than 550 points during Tuesday’s trading session.

As of 11:35 am, the benchmark index stood at 122,792.50, marking an upswing of 567.15 points, which translates to a 0.46% increase.

Purchasing activity was evident across vital sectors, including automobile manufacturing, cement, commercial banking, oil and gas exploration, oil marketing companies (OMCs), power generation, and the refinery industry. Significant stocks such as HUBCO, ARL, PSO, SNGPL, MARI, POL, and PPL also experienced buying interest.

In accordance with market forecasts, the Monetary Policy Committee (MPC) at the State Bank of Pakistan (SBP) opted to maintain the existing policy rate at 11%.

The MPC acknowledged that the rise in inflation to 3.5% year-on-year (y/y) for May was anticipated, while core inflation showed a slight decrease.

The PSX concluded Monday’s trading with mixed results among its indices, indicating varied market sentiment.

While the KSE-100 Index saw a marginal gain, the broader market displayed a balance between positive and negative influences. Specifically, the KSE-100 Index increased by 81.79 points, or 0.07%, settling at 122,225.36 points.

Global Market Overview

Internationally, U.S. stock futures experienced a dip, and oil prices increased on Tuesday. Market anxieties stemmed from geopolitical tensions, with investors monitoring developments such as calls for evacuations and ongoing regional conflicts.

Market sensitivity was heightened by reports that a national security council was preparing amid adjustments to international summits.

Earlier statements urging immediate evacuations and emphasizing previous international agreements further contributed to market unease.

Recent developments triggered risk-averse behavior in early trading sessions in Asia. Futures for the S&P 500 decreased by 0.46%, and European futures dropped by 0.69%, while crude oil prices saw a temporary surge of over 2%.

Wall Street closed with gains on Monday, following reports that an immediate ceasefire was sought, which alleviated concerns and cooled crude prices.

Escalations involving air operations intensified regional tensions, with actions directed at state broadcasting and facilities.

Increased uncertainty promoted investor interest in safe-haven assets, resulting in a rise in the value of gold by 0.5%, while an increase in U.S. Treasuries drove yields down.

The yield on the 10-year note decreased by approximately 2 basis points, reaching 4.43%.

The dollar strengthened against other currencies, reaffirming its standing as a safe asset, while maintaining trading ranges.

Regional indices showed slight increases, and futures tracking the Hang Seng index also saw marginal gains.

This information reflects an intra-day market update.