PSX Sees Positive Turn with Intra-Day Gains

The Pakistan Stock Exchange (PSX) experienced a resurgence of optimism on Tuesday, as the benchmark KSE-100 index climbed by over 300 points during the day’s trading session.

As of 1:35 PM, the KSE-100 index reached 118,525.66, marking an increase of 304.54 points, which translates to a 0.26% rise.

Buying activity was prominent in crucial sectors such as automobile manufacturing, power generation, oil and gas exploration, oil marketing companies (OMCs), and commercial banking. Key stocks that contributed to the positive trend included HBL, HUBCO, MEBL, NBP, OGDC, PPL, PSO, and SNGPL, all of which traded positively.

This positive movement follows Monday’s sharp decline in the KSE-100 index, which was triggered by investor reaction to the budget postponement and uncertainties surrounding the International Monetary Fund’s (IMF) approval of the circular debt management plan. On Monday, the index decreased by 881.55 points, or 0.74%, ultimately closing at 118,221 points.

Global Market Overview

Across international markets, Asian shares saw a slight dip on Tuesday. However, US futures showed gains after President Donald Trump postponed the imposition of 50% tariffs on shipments from the European Union. The US dollar is also on track for its fifth consecutive monthly decline.

In Japan, yields on super-long government bonds decreased early in the session, rebounding from all-time highs after a significant selloff last week.

US markets were closed on Monday due to a holiday, resulting in subdued overnight trading conditions. Investors are reacting to Trump’s reversal on imposing tariffs on EU imports, extending the deadline to July 9.

Nasdaq futures increased by 1.26% in Asia, while S&P 500 futures rose by 1.11%. FTSE futures also advanced by 0.94%. UK markets were also closed on Monday.

Nvidia is expected to release its earnings on Wednesday, with expectations of a 65.9% increase in first-quarter revenue.

The MSCI’s broadest index of Asia-Pacific shares outside Japan declined by 0.17%, while Japan’s Nikkei experienced a similar decrease of 0.15%.

China’s CSI300 blue-chip index edged down by 0.06%, and the Shanghai Composite Index remained relatively stable. Hong Kong’s Hang Seng Index decreased by 0.1%.

This week, investors will be closely monitoring speeches from Federal Reserve policymakers and the US core PCE price index on Friday for indications on the outlook for US interest rates.

This information reflects an intra-day market update.