Positive Momentum at Pakistan Stock Exchange

The Pakistan Stock Exchange (PSX) witnessed positive market sentiment as the KSE-100 Index, the benchmark, climbed nearly 300 points in the initial trading hours on Thursday.

At 10:50 am, the index was observed at 139,534.45, reflecting an increase of 280.10 points, equivalent to a 0.20% gain.

Purchasing activity was evident in crucial sectors such as automobile manufacturing, oil and gas exploration, oil marketing companies (OMCs), and power generation. Major stocks including HUBCO, PSO, SSGC, SNGPL, OGDC, PPL, and POL all showed positive movement.

On Wednesday, the PSX experienced slight downward pressure due to investors opting to secure profits. There was a visible reassessment among investors regarding the durability of the recent bullish trend, which prompted a measured contraction in key sectors.

The KSE-100 Index decreased by 165.26 points, or 0.12%, concluding at 139,254.36 points.

Global Market Overview

Asian shares experienced a rally, and the Australian dollar reached its highest value in eight months on Thursday, driven by enhanced earnings and trade optimism that bolstered demand for assets with higher yields.

Tokyo’s broad Topix index achieved an all-time high, mirroring new records on Wall Street overnight. A trade agreement between Japan and the U.S. fueled speculation about further forthcoming deals aimed at averting extensive tariffs. Futures for Nasdaq and S&P also rose after Alphabet, Google’s parent company, exceeded expectations, setting a positive tone for the earnings season of the “Magnificent Seven.”

The U.S. has also finalized agreements with the Philippines and Indonesia, with expectations of an impending agreement with the European Union. The EU and U.S. are nearing a trade agreement that proposes imposing 15% tariffs on European imports while removing duties on selected items, according to European Commission officials. Meanwhile, Treasury Secretary Scott Bessent indicated that U.S. and Chinese officials are scheduled to meet in Stockholm next week.

The performance of the “Magnificent Seven” companies, whose results have historically driven indexes to peak levels, is closely monitored for insights into spending and returns related to artificial intelligence (AI).

Alphabet exceeded forecasts, attributing its success to strong demand for its cloud computing services as it increased its capital expenditure plans. In contrast, Tesla, the electric car manufacturer, reported its most significant quarterly sales decline in over a decade, with profits falling short of analyst expectations.

MSCI’s broadest index of Asia-Pacific shares, excluding Japan, increased by 0.3%. Japan’s Topix index continued its rise for the second consecutive day, climbing 1.4% to surpass its previous all-time high from the prior year.

This information reflects an intra-day market update.