PSX Maintains Bullish Trend with KSE-100 Index Soaring

The Pakistan Stock Exchange (PSX) witnessed continued positive momentum as the benchmark KSE-100 Index experienced an upswing, gaining almost 300 points in the initial trading hours on Friday.

As of 10:00 am, the KSE-100 Index was recorded at 119,259.25, reflecting a gain of 287.85 points, which translates to a 0.24% increase.

Key sectors such as cement, chemicals, commercial banks, fertilisers, oil and gas exploration, OMCs, and power generation demonstrated encouraging performance. Major stocks, including HUBCO, NRL, PRL, PSO, MARI, OGDC, PPL, HBL, NBP, MCB, and UBL, all traded positively.

On the preceding day, Thursday, the PSX concluded trading in positive territory, bolstered by robust investor confidence stemming from both local and global factors. The KSE-100 Index rose by 638.50 points, equivalent to 0.54%, eventually closing at 118,971.40 points.

Global Stock Market Overview

Across the globe, Asian stock markets experienced a downturn on Friday, accompanied by a decline in the US dollar and Treasury yields. This occurred as investors absorbed the impact of a court decision upholding President Donald Trump’s tariffs, following a market rally triggered by a prior ruling that blocked the majority of these tariffs.

Japan’s Nikkei index saw the most significant selling activity, reversing its strong gains from Thursday. The movements in this exporter-heavy index were amplified by fluctuations in demand for the safe-haven yen.

The United States Court of Appeals for the Federal Circuit in Washington temporarily reimposed Trump’s tariffs on Thursday, pending the consideration of the government’s appeal.

The Nikkei index decreased by 1.7% during the Asian trading session, effectively returning to its closing level from Wednesday.

The yen strengthened approximately 2% from its Thursday low, trading at around 143.48 per US dollar. A stronger yen typically reduces the value of revenues generated from overseas.

Hong Kong’s Hang Seng index fell by 1.4%, while mainland China’s blue-chip index experienced a 0.3% decline in early trading.

South Korea’s KOSPI also saw a decrease of 0.5%.

MSCI’s broadest index of Asia-Pacific shares, excluding Japan, decreased by 0.4%.

This information reflects an update from intraday trading activities.