PSX Soars as Global Markets React to US Tariff Block

The Pakistan Stock Exchange (PSX) maintained its positive trajectory, mirroring a global surge that followed a US court’s decision to halt President Donald Trump’s proposed tariffs. The benchmark KSE-100 Index experienced substantial growth, climbing over 1,100 points during Thursday’s trading session.

As of 11:50 am, the KSE-100 index stood at 119,440.75, reflecting an increase of 1,107.85 points, or 0.94%.

Widespread purchasing activity was evident across multiple sectors, including automobile manufacturing, cement, commercial banking, oil and gas exploration, oil marketing companies (OMCs), and power generation. Key stocks such as HUBCO, MARI, OGDC, PPL, SNGPL, SSGC, MCB, MEBL, and NBP all showed positive movement.

Earlier in the week, on Tuesday, the PSX saw a modest recovery, driven by pre-budget speculations and expectations of a real estate stimulus in the upcoming federal budget, particularly benefiting cement stocks.

The KSE-100 index had previously gained 112 points, or 0.09%, to close at 118,333 points. Trading was suspended on Wednesday in observance of Yaum-e-Takbeer.

Internationally, Asian markets and Wall Street futures rose sharply on Thursday following the US court’s intervention on President Trump’s tariffs. This development also strengthened the dollar against safe-haven currencies.

The Court of International Trade, based in Manhattan, determined that President Trump had exceeded his authority by imposing broad tariffs on imports from countries with trade surpluses with the United States.

The White House has initiated an appeal and may pursue the matter to the Supreme Court. However, the initial ruling has raised hopes that the Trump administration may reconsider its most aggressive tariff threats.

Investors responded favorably, with Japan’s Nikkei increasing by 1.7%, and South Korean shares reaching a nine-month high with a 1.2% gain.

MSCI’s index of Asia-Pacific shares excluding Japan increased by 0.3%, while Chinese blue chips rose by 0.5%.

The positive sentiment extended to European markets, with EUROSTOXX 50 futures up by 1.1%, FTSE futures by 0.7%, and DAX futures by 0.9%.

S&P 500 futures advanced by 1.6%, and Nasdaq futures increased by 1.9%, boosted by strong earnings from Nvidia, which surpassed sales forecasts.

Nvidia, a prominent chipmaker and AI leader, also projected robust revenues for the current quarter, causing its shares to jump 4.4% in after-hours trading.

This information reflects an intra-day market update.