The Pakistan Stock Exchange (PSX) kicked off Thursday’s session with remarkable upward momentum, as the benchmark KSE-100 Index soared by over 1,100 points, reaching 137,481.74 at 10:20am—a gain of 0.81%.
Key Sectors Lead the Rally
Investor appetite remained strong in key economic sectors, including:
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Automobile Assemblers
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Cement
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Fertilizer
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Oil and Gas Exploration
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Oil Marketing Companies (OMCs)
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Power Generation
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Refineries
Index-heavyweights such as ARL, HUBCO, PSO, SNGPL, MARI, OGDC, POL, UBL, and NBP traded firmly in the green, reflecting broad-based confidence in the market.
PSX Breaks 137,000 Barrier as Investor Confidence Soars
Sustained Momentum from Previous Session
This rally follows Wednesday’s gains, where the KSE-100 Index climbed 440 points (0.32%) to close at 136,380 points, continuing its recent bullish trend. While some investors opted for profit-taking, market sentiment remained buoyant, especially in sectors with promising earnings potential.
Global Market Cues Mixed
Global cues remained mixed. Asian markets wavered ahead of major corporate earnings:
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TSMC, the leading global AI chip manufacturer, is expected to report record Q2 profits, but concerns linger due to US tariffs and Taiwan dollar strength.
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Netflix results, due later today, are also drawing investor attention.
Meanwhile, political uncertainty in the US has injected volatility into global markets. Confusion surrounding Federal Reserve Chair Jerome Powell’s future rattled investors, with initial reports of his potential dismissal by former President Donald Trump causing a dip in stocks and the dollar. Trump later denied the reports but continued his criticism of Powell for not cutting interest rates.
Despite the global unease:
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EUROSTOXX 50 futures rose 0.56%
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FTSE and DAX futures gained around 0.4% each
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MSCI’s Asia-Pacific index edged up by 0.06%
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Nikkei fell by 0.24%
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Nasdaq and S&P 500 futures declined by 0.1%
Market Outlook
With improving local fundamentals and strong sectoral performance, the PSX continues to ride a wave of optimism. However, international developments, especially those affecting global interest rates and investor confidence, will remain influential in the days ahead.
