PSX Sees Positive Momentum in Intra-day Trading

The Pakistan Stock Exchange (PSX) experienced a resurgence of positive sentiment on Tuesday, with the KSE-100 benchmark index climbing by over 250 points during the day’s trading session.

As of 11 am, the benchmark index stood at 118,486.68, reflecting an increase of 265.56 points, equivalent to a 0.22% rise.

Buying activity was noticeable across several prominent sectors, including automobile manufacturing, power generation, oil and gas exploration, oil marketing companies (OMCs), and commercial banking. Major stocks such as HBL, HUBCO, MEBL, NBP, OGDC, PPL, PSO, and SNGPL all showed positive movement.

On the prior day, Monday, the KSE-100 index faced a significant downturn as investors responded to the budget postponement and uncertainties surrounding the IMF’s approval of the circular debt management plan. The index decreased by 881.55 points, a 0.74% drop, ultimately closing at 118,221 points.

Global Market Overview

Across international markets, Asian shares encountered a slight dip on Tuesday. However, US futures demonstrated an upward trend following President Donald Trump’s decision to postpone the implementation of threatened 50% tariffs on shipments from the European Union. Meanwhile, the US dollar is on track for its fifth consecutive month of decline.

In Japan, yields on long-term government bonds declined in early trading, pulling back from recent highs after a significant selloff last week.

US markets remained closed on Monday due to a holiday, resulting in subdued trading activity overnight. Investors focused on the lingering optimism stemming from Trump’s reversal of the planned 50% tariffs on EU imports, extending the deadline to July 9.

Nasdaq futures increased by 1.26% in Asian trading, and S&P 500 futures showed a similar gain of 1.11%. FTSE futures also rose, advancing by 0.94%. UK markets were also closed for a holiday on Monday.

Earnings reports from Nvidia are expected on Wednesday, with projections indicating a substantial 65.9% increase in first-quarter revenue for the AI leader.

Elsewhere in Asia, MSCI’s broadest index of Asia-Pacific shares excluding Japan decreased by 0.17%, and Japan’s Nikkei experienced a similar decline of 0.15%.

China’s CSI300 blue-chip index saw a slight decrease of 0.06%, while the Shanghai Composite Index remained relatively stable. Hong Kong’s Hang Seng Index edged down by 0.1%.

This week, investors will be closely monitoring speeches from various Federal Reserve policymakers and the US core PCE price index, scheduled for release on Friday, for indications on the future direction of US interest rates.

This information reflects an intra-day market update.