Pakistan Stock Exchange Advances as Bulls Dominate Early Trading
Buying momentum carried over into Friday’s session at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index gaining nearly 100 points in the first half of the day’s trade.
At 12:00 PM, the KSE-100 stood at 119,041.35 points, up 69.95 points or 0.06%, after climbing to an intra-day high of 119,503.12 in the opening hours. The continued rally underscores growing investor confidence, driven by both domestic policy clarity and sectoral strength.
Sector-Wide Strength Drives Gains
Buying was widespread across key sectors, with cement, chemicals, commercial banks, fertilisers, oil and gas exploration companies, OMCs, and power generation stocks all participating in the upward trend.
Among the top performers were HUBCO, OGDC, PPL, MARI, PSO, NRL, PRL, HBL, MCB, UBL, and NBP—stocks that hold significant weight in the index and often dictate broader market direction.
The positive start follows a strong Thursday close, when the PSX gained 638.50 points or 0.54%, closing at 118,971.40. The bullish sentiment has been attributed to improving investor confidence due to expectations around the budget, declining inflation, and signs of macroeconomic stability.
Global Markets Show Mixed Signals
In contrast to the bullishness at the PSX, Asian markets showed signs of retreat on Friday amid renewed uncertainty around U.S. trade policy.
The United States Court of Appeals for the Federal Circuit reinstated former President Donald Trump’s tariffs temporarily, reversing a prior ruling that had blocked most of them. This created confusion in global markets, particularly affecting export-heavy economies in Asia.
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Japan’s Nikkei fell 1.7%, giving up gains from Thursday’s strong session.
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Hong Kong’s Hang Seng Index dropped 1.4%.
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China’s blue-chip CSI300 slipped 0.3%.
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South Korea’s KOSPI was down 0.5%.
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MSCI’s broadest index of Asia-Pacific shares (excluding Japan) declined 0.4%.
The Japanese yen strengthened 2% from its Thursday low, reaching 143.48 per U.S. dollar, further dampening sentiment in Tokyo as a stronger yen reduces profits from exports.
PSX Gains Stand Out Amid Global Caution
While global equities are on the back foot, Pakistan’s market appears insulated, at least for now. Investors seem to be positioning ahead of the FY25 federal budget, widely expected to outline structural reforms and set the tone for a fresh IMF engagement.
The sustained upward trajectory of the KSE-100 Index, even amid global risk-off sentiment, reflects domestic optimism about earnings performance in key sectors and confidence in macroeconomic direction.
