PSX Sees Positive Turnaround with Intra-day Gains

The Pakistan Stock Exchange (PSX) experienced a resurgence of positive sentiment on Tuesday, as the benchmark KSE-100 index climbed by over 400 points during the day’s trading session.

As of 2:30pm, the KSE-100 index was recorded at 118,660.30, reflecting an increase of 439.18 points, which translates to a 0.37% rise.

Investor interest was particularly strong in key sectors such as automobile manufacturing, power generation, oil and gas exploration, oil marketing companies (OMCs), and commercial banking. Major stocks including HBL, HUBCO, MEBL, NBP, OGDC, PPL, PSO, and SNGPL all showed positive movement.

This positive trend follows Monday’s sharp decline in the KSE-100 index, which was triggered by investor unease regarding the budget postponement and uncertainties surrounding the IMF’s approval of the circular debt management plan. The index had previously fallen by 881.55 points, or 0.74%, to close at 118,221 points.

Global Market Overview

Across international markets, Asian shares saw a slight downturn on Tuesday. However, US futures indicated gains after President Donald Trump postponed the imposition of increased tariffs on goods from the European Union. The US dollar is also on track for its fifth consecutive month of decline.

In Japan, yields on long-term government bonds decreased early in the session, recovering from recent highs following significant bond sell-offs the previous week.

US markets were closed on Monday due to a public holiday, resulting in reduced trading activity overnight. Investors are reacting positively to Trump’s decision to delay imposing higher tariffs on EU imports, extending the deadline to July 9.

Nasdaq futures in Asia saw a rise of 1.26%, while S&P 500 futures increased by 1.11%. FTSE futures also climbed, advancing by 0.94%. Like the US, UK markets were closed on Monday for a holiday.

Nvidia’s upcoming earnings report, scheduled for Wednesday, is anticipated to reveal a 65.9% increase in first-quarter revenue.

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

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

Market participants will be closely monitoring speeches from various Federal Reserve officials this week, as well as the US core PCE price index report on Friday, for insights into the future direction of US interest rates.

This information reflects an update during the trading day.