PSX Sees Continued Buying Momentum

The Pakistan Stock Exchange (PSX) sustained its positive trajectory, as the KSE-100 Index experienced a surge of approximately 100 points during the initial hours of trading on Friday.

The trading day began with bullish sentiment, propelling the KSE-100 to an intra-day peak of 119,503.12.

As of 12pm, the benchmark index stood at 119,041.35, reflecting an increase of 69.95 points, equivalent to a 0.06% rise.

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

On Thursday, the PSX concluded trading in positive territory, bolstered by strong investor confidence stemming from various domestic and global factors. The KSE-100 Index advanced by 638.50 points, or 0.54%, closing at 118,971.40 points.

In global markets, Asian stocks declined on Friday, and the US dollar weakened alongside Treasury yields as investors assessed an appeals court decision upholding President Donald Trump’s tariffs. This followed a market rally the previous day triggered by a separate ruling that blocked the majority of those tariffs.

Japan’s Nikkei experienced the most significant selling pressure, contrasting with Thursday’s strong buying activity. Fluctuations in the exporter-heavy index were amplified by shifts in demand for the safe-haven yen.

The United States Court of Appeals for the Federal Circuit in Washington temporarily reinstated Trump’s tariffs on Thursday while it reviews the government’s appeal.

The Nikkei fell by 1.7% during the Asian morning session, effectively returning to its Wednesday closing level.

The yen appreciated by approximately 2% from its Thursday low, last trading at around 143.48 per US dollar. A stronger yen typically diminishes the value of overseas revenue.

Hong Kong’s Hang Seng index decreased by 1.4%, while mainland China’s blue chip index edged down 0.3% in early trading.

South Korea’s KOSPI declined by 0.5%.

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

This is an intra-day market update.