PSX Continues Bullish Trend, KSE-100 Exceeds 142,000

The Pakistan Stock Exchange (PSX) witnessed sustained positive momentum, as the benchmark KSE-100 Index surpassed the 142,000 threshold during Monday’s intraday session.

As of 1:40 PM, the KSE-100 Index stood at 142,117.00, reflecting an increase of 1,082.02 points, equivalent to a 0.77% rise.

Buying activity was evident in key sectors such as commercial banks, oil and gas exploration firms, oil marketing companies (OMCs), power generation entities, and refineries. Major stocks including ARL, MARI, OGDC, PPL, POL, PSO, WAFI, HBL, MEBL, and NBP showed positive trading trends.

Market analysts attributed the buying surge to growing investor confidence following a recently established trade agreement between the United States and Pakistan, which is expected to result in reduced tariffs for Pakistan.

Last week, the PSX concluded a remarkable period, with the KSE-100 Index reaching a record high close of 141,035 points, marking a weekly gain of 1.3%. The index also achieved a new intraday peak of 141,161 points, signaling a significant shift in market sentiment fueled by a breakthrough in trade relations with the United States and increased investor optimism in Pakistan’s macroeconomic outlook.

Globally, Asian stock markets mirrored declines on Wall Street on Monday, driven by renewed concerns about the U.S. economy. This led investors to anticipate a likely rate cut in September, weakening the dollar.

While some early resilience in U.S. stock futures and a continued decline in oil prices helped moderate the losses, the negative implications of the July payrolls report were significant. Revisions indicated that payrolls were 290,000 lower than previously estimated, and the three-month average decreased to 35,000 from 231,000 at the beginning of the year.

Furthermore, President Donald Trump’s response, including the dismissal of the head of Labor Statistics, potentially undermined trust in U.S. economic data. Similarly, news of Trump filling a governorship position at the Federal Reserve raised concerns about the potential politicization of interest rate policy.

The possibility of reduced borrowing costs provided some support for equities, with S&P 500 futures rising 0.1% and Nasdaq futures increasing 0.2%.

However, Asian stock markets were still reacting to Friday’s decline, with the Nikkei falling 2.1% and South Korea decreasing by 0.2%. MSCI’s broadest index of Asia-Pacific shares outside Japan bucked the trend and rose 0.3%.

This information reflects an intraday market update.