PSX Sees Buying Interest, KSE-100 Gains Over 900 Points

The Pakistan Stock Exchange (PSX) experienced a resurgence of buying activity, with the benchmark KSE-100 Index soaring by over 900 points during Thursday’s trading session.

As of 3:15pm, the KSE-100 Index stood at 116,931.85, reflecting an increase of 911.75 points, equivalent to a 0.79% rise compared to the previous day’s closing figure.

In contrast, Wednesday saw a downturn in the PSX, with the KSE-100 Index dropping by 755.40 points, a 0.65% decline.

A significant development saw Kuwait renewing its oil credit arrangement with Pakistan for an additional two years. The Kuwaiti Ambassador to Pakistan verified this information during a meeting with Petroleum Minister Ali Pervaiz Malik in Islamabad on Wednesday, according to a statement released by the Petroleum Division.

United Bank Limited (UBL), a major commercial bank in Pakistan, reported a consolidated profit-after-tax (PAT) of Rs36.11 billion for the quarter concluding March 31, 2025. This represents a substantial 124% surge from the Rs16.14 billion PAT recorded during the same period in 2024.

The bank communicated these financial results to the PSX via a notice on Wednesday.

UBL’s earnings per share (EPS) reached Rs29.34 in the first quarter of 2025, up from Rs13.05 in the corresponding quarter of 2024.

Asian stock markets displayed mixed performance on Thursday after Federal Reserve Chair Jerome Powell cautioned about potential risks to economic growth and rising inflation due to tariffs. Uncertainty surrounding U.S. trade policies kept the dollar near its lowest levels in three years.

Technology stocks remained in focus following a challenging session on Wednesday, prompted by warnings from industry leaders Nvidia and ASML, and ahead of Taiwan’s TSMC earnings report.

Safe-haven gold prices continued their upward trajectory, hitting another record high in early Thursday trading. Powell’s remarks regarding a possible slowdown in U.S. economic growth led to a decrease in Treasury yields.

In early trading across Asia, stock markets exhibited caution following a sharp decline in U.S. stocks. South Korea’s primary index edged up by 0.4%, while Taiwanese stocks decreased by 0.5%.

Japan’s Nikkei index increased by 0.7%, while the yen weakened as Japan initiated discussions with the U.S. In a surprising move, President Donald Trump decided to negotiate directly with the Japanese delegation, indicating “significant progress.”

Furthermore, Powell stated that the Federal Reserve would await additional data on the economy’s trajectory before implementing any modifications to interest rates.