PSX Maintains Bullish Trend with Significant Gains

Following a surge of over 6,000 points the previous day, the Pakistan Stock Exchange (PSX) witnessed sustained buying interest, as the benchmark KSE-100 Index increased by over 900 points in the initial hours of trading on Wednesday.

As of 10:20 AM, the KSE-100 Index stood at 123,166.23, reflecting an increase of 919.60 points or 0.75%.

The upward trajectory was primarily fueled by positive activity in prominent sectors, including automobile manufacturing, commercial banking, fertilizer, oil and gas exploration, oil marketing companies (OMCs), and the refinery industry. Stocks of major companies such as NRL, MARI, PPL, SSGC, MEBL, NBP, and UBL were actively traded in positive territory.

On the preceding day, Tuesday, the PSX reached a new all-time high, primarily driven by heightened investor confidence after the announcement of a ceasefire between Iran and Israel.

The KSE-100 Index experienced a remarkable surge of 6,079 points, equivalent to 5.23%, ultimately settling at a record level of 122,246 points. This surge represents the second-largest single-day gain ever recorded in terms of points.

Globally, Asian stock markets displayed stability on Wednesday, with crude oil prices remaining near multi-week lows. The ceasefire between Israel and Iran contributed to improved market sentiment, despite ongoing concerns regarding potential escalations in hostilities.

The U.S. dollar remained weak against the euro, nearing a four-year low, while two-year U.S. Treasury yields declined to 1 1/2-month lows as reduced oil prices eased concerns about inflation’s impact on bonds.

While the ceasefire remains in effect, Israel has stated its intent to respond strongly to Iranian missile strikes, which followed U.S. President Donald Trump’s announcement of the end of hostilities.

Moreover, a preliminary U.S. intelligence assessment suggests that U.S. airstrikes did not eliminate Iran’s nuclear capabilities but only delayed them by several months, contradicting President Trump’s earlier claims of Iran’s nuclear program being “obliterated.”

Japan’s Nikkei and Australia’s stock market benchmark remained unchanged, while Taiwan’s index saw a 1% increase.

Hong Kong’s Hang Seng index rose by 0.6%, whereas mainland Chinese blue chips experienced a slight decrease of 0.1%.

U.S. stock futures showed little movement.

The MSCI index of global stocks remained steady after reaching a record high overnight.

This information reflects an update from intraday trading activity.