PSX Sees Positive Trend with KSE-100 Index Climbing

The Pakistan Stock Exchange (PSX) experienced positive activity today, as the benchmark KSE-100 Index increased by almost 650 points during intra-day trading on Tuesday.

As of 11:40 am, the index reached 122,870.73, showing an increase of 645.38 points, equivalent to a 0.53% rise.

Purchasing activity was evident in important sectors like automobile manufacturing, cement, commercial banking, oil and gas exploration, oil marketing companies, power generation, and refineries. Notable stocks contributing to the index’s performance included HUBCO, ARL, PSO, SNGPL, MARI, POL, and PPL.

In accordance with anticipations, the State Bank of Pakistan’s (SBP) Monetary Policy Committee (MPC) opted to maintain the policy rate at 11%.

The MPC highlighted that the increase in inflation during May, reaching 3.5% year-on-year (y/y), aligned with projections, while core inflation saw a slight reduction.

The PSX concluded Monday’s trading with varied results across its indices, demonstrating a mixed market mood.

Although the KSE-100 Index achieved a slight gain, the broader market dynamics indicated a balance between optimistic and pessimistic influences. The KSE-100 Index recorded a marginal rise of 81.79 points, or 0.07%, settling at 122,225.36 points.

Internationally, US stock futures experienced a decline, and oil prices increased on Tuesday as investors responded to concerns over geopolitical tensions.

Market sentiment was affected by reports that Trump had requested the national security council to prepare in the situation room.

Earlier, Trump had urged individuals to evacuate Tehran immediately, emphasizing that Iran should have agreed to a nuclear deal with the United States.

These developments triggered risk-averse actions in early Asian trading. S&P 500 futures decreased by 0.46%, European futures fell by 0.69%, while crude prices briefly rose by over 2%.

Wall Street concluded higher on Monday following reports that Iran was pursuing a Trump-mediated immediate ceasefire, which also eased a surge in crude prices.

The heightened unpredictability and volatile situation in the Middle East strengthened investor interest in safe-haven assets like gold, which rose by 0.5%, while increased demand for U.S. Treasuries led to lower yields across the curve.

The yield on the benchmark 10-year note decreased by approximately 2 basis points, reaching 4.43%.

The dollar gained strength against the euro, yen, and sterling, reaffirming its position as a safe asset, even as it remained within generally tighter ranges.

MSCI’s broadest index of Asia-Pacific shares outside Japan saw a slight increase, and futures tracking Hong Kong’s Hang Seng index also showed marginal gains.

This information reflects an intra-day market update.