PSX Encounters Volatility, KSE-100 Remains Nearly Flat

Trading on the Pakistan Stock Exchange (PSX) exhibited significant fluctuation, as the benchmark KSE-100 Index showed minimal change on Thursday.

As of 11:00 AM, the KSE-100 Index stood at 121,820.42, reflecting a slight increase of 21.56 points, or 0.02%.

Diverse trends were evident across vital sectors such as automobile manufacturing, commercial banking, fertilizer, oil and gas exploration, and oil marketing companies (OMCs). Major stocks including MARI, POL, WAFI, and MCB experienced gains.

On Wednesday, the PSX prolonged its positive trajectory for the second consecutive session, culminating in a fresh record high, largely fueled by favorable anticipations surrounding the forthcoming budget.

The KSE-100 Index surged by 1,348 points, equivalent to 1.12%, concluding at a historic peak of 121,799 points.

Globally, Asian equities edged upward, while the US dollar weakened ahead of the European Central Bank’s (ECB) policy guidance for a turbulent global economic landscape.

The dollar declined in the prior session due to lackluster US jobs and services figures, with more substantial employment data anticipated on Friday. The impact on the US economy from tariff actions is becoming increasingly apparent, while bilateral agreements remain pending.

Canada contemplated potential countermeasures against the implementation of new US metals tariffs, while the European Union reported headway in trade discussions with Washington.

Amid this backdrop, market analysts anticipated the ECB to reduce policy interest rates and will closely monitor ECB President Christine Lagarde’s indications regarding future policy decisions.

Increased tariffs on steel and aluminum imports by the US took effect on Wednesday, particularly affecting Canada and Mexico.

MSCI’s broadest index of Asia-Pacific shares excluding Japan rose by 0.7% in early trading, whereas Japan’s Nikkei stock index decreased by 0.2%.

This information reflects an intra-day market update.