Volatility was observed at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index gaining over 300 points during the opening hours of trading on Wednesday.
At 11am, the benchmark index was hovering at 113,312.54 level, an increase of 302.16 points or 0.27%.
A mixed trend was witnessed with buying in key sectors including automobile assemblers, cement, fertilizer, oil and gas exploration companies, OMCs and power generation. Index-heavy stocks including HUBCO, SHEL, SNGPL, MARI, POL and EFERT traded in the green.
“Market has gained optimism given rising expectations of a smooth IMF review due by March — inspired by a strong primary surplus for 1HFY25 and IMF staff’s remarks ahead of the review,” said Intermarket Securities in a note on Wednesday.
“If such encouraging news flow continues then the current market rebound is likely to extend,” it added.
On Tuesday, positive momentum persisted at the PSX for the second consecutive session in the week, with the benchmark KSE-100 closing the day with a gain of 1,632 points at 113,010.38.
Globally, stocks rose and US Treasury yields firmed on Wednesday as investors assessed the latest U.S. tariff salvo along with Federal Reserve Chair Jerome Powell’s signal of a patient path for rate cuts.
Financial markets were largely biding time ahead of a reading on U.S. consumer prices due later in the day which could guide the outlook for monetary policy there, particularly as policymakers weigh the potential inflationary impact of Donald Trump’s tariffs on the economy.
The US President on Monday raised tariffs on steel and aluminium imports to 25% from the previous 10%, eliminated country exceptions, as well as product-specific exclusions, and promised to announce global reciprocal tariffs within days.
Mexico, Canada and the European Union on Tuesday condemned the move, with the EU saying the 27-nation bloc would take “firm and proportionate countermeasures”.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.32%, following a mixed session on Wall Street as gains in Coca-Cola and Apple offset losses in Tesla.
This is an intra-day update
Volatility was observed at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index gaining over 300 points during the opening hours of trading on Wednesday.
At 11am, the benchmark index was hovering at 113,312.54 level, an increase of 302.16 points or 0.27%.
A mixed trend was witnessed with buying in key sectors including automobile assemblers, cement, fertilizer, oil and gas exploration companies, OMCs and power generation. Index-heavy stocks including HUBCO, SHEL, SNGPL, MARI, POL and EFERT traded in the green.
“Market has gained optimism given rising expectations of a smooth IMF review due by March — inspired by a strong primary surplus for 1HFY25 and IMF staff’s remarks ahead of the review,” said Intermarket Securities in a note on Wednesday.
“If such encouraging news flow continues then the current market rebound is likely to extend,” it added.
On Tuesday, positive momentum persisted at the PSX for the second consecutive session in the week, with the benchmark KSE-100 closing the day with a gain of 1,632 points at 113,010.38.
Globally, stocks rose and US Treasury yields firmed on Wednesday as investors assessed the latest U.S. tariff salvo along with Federal Reserve Chair Jerome Powell’s signal of a patient path for rate cuts.
Financial markets were largely biding time ahead of a reading on U.S. consumer prices due later in the day which could guide the outlook for monetary policy there, particularly as policymakers weigh the potential inflationary impact of Donald Trump’s tariffs on the economy.
The US President on Monday raised tariffs on steel and aluminium imports to 25% from the previous 10%, eliminated country exceptions, as well as product-specific exclusions, and promised to announce global reciprocal tariffs within days.
Mexico, Canada and the European Union on Tuesday condemned the move, with the EU saying the 27-nation bloc would take “firm and proportionate countermeasures”.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.32%, following a mixed session on Wall Street as gains in Coca-Cola and Apple offset losses in Tesla.
This is an intra-day update
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