PSX Sees Bullish Trend with KSE-100 Index Surging

Trading activity at the Pakistan Stock Exchange (PSX) experienced a resurgence on Wednesday, as the benchmark KSE-100 Index climbed by over 700 points during the day’s trading session.

As of 11:20 am, the KSE-100 Index was recorded at 119,712.47, reflecting an increase of 741.35 points, equivalent to a 0.62% rise.

Positive momentum was evident across key sectors, including commercial banks, oil and gas exploration firms, oil marketing companies (OMCs), power generation, and the refinery sector. Major stocks such as HUBCO, NRL, PSO, SNGPL, SSGC, MARI, OGDC, POL, and PPL all showed gains.

On the preceding day, Tuesday, the PSX had a less favorable session, with the KSE-100 Index decreasing by 700 points to close at 118,971.12. This downturn was attributed to anxieties regarding the forthcoming budget for the fiscal year 2025-26.

Global Market Overview

Across international markets, Asian equities saw modest gains on Wednesday. However, risk appetite remained cautious due to high bond yields, as investors were wary of the fiscal stability of major developed economies and the absence of new trade agreements.

Crude oil prices experienced an increase of over $1 per barrel following reports that Israel was preparing to target Iranian nuclear facilities. This development intensified supply concerns in the crucial Middle East production region, refocusing attention on geopolitical risks.

Attention is also directed towards the Japanese bond markets, following a surge in yields on long-term bonds to record highs amid concerns about demand for the nation’s debt after a disappointing 20-year bond auction.

During early trading on Wednesday, the yield on 20-year bonds increased by 2 basis points, while the yield on 30-year Japanese Government Bonds (JGBs) declined by 1.5 bps.

Asian Stock Performance

In the stock market arena, China’s blue-chip index displayed subdued activity during early trading hours, while Hong Kong’s Hang Seng Index showed a rise of 0.58%.

China has indicated it may pursue legal action against any entity aiding or implementing US policies that discourage companies from utilizing advanced semiconductors sourced from China.

The MSCI index for Asia-Pacific shares, excluding Japan, saw a slight increase of 0.5%, whereas Japan’s Nikkei experienced a decrease of 0.18%.

This information reflects an intra-day market update.