ISLAMABAD: Pakistan Stock Exchange (PSX) continued its upward trajectory on Tuesday with the benchmark KSE-100 Index settling above the 143,000 mark, a new record high.
Positive momentum was observed throughout the day session, pushing the KSE-100 to an intra-day high of 143,281.34.
At close, the benchmark index settled at 143,037.16, an increase of 984.52 points or 0.69%.
Buying was observed in key sectors, including automobile assemblers, commercial banks, cement, fertiliser, and OMCs traded in the green. Index-heavy stocks, including SNGPL, WAFI, INDU, MCB, MEBL, and UBL, traded in the green.
On Tuesday, a total of 549,719,494 shares were traded as compared to 666,372,806 shares on the last working day, whereas the price of shares stood at PKR 37.040 billion against PKR 42.924 billion on the previous trading day.
As many as 484 companies transacted their shares in the stock market, 239 of them recorded gains and 217 met losses, whereas the share price of 28 companies remained unchanged.
The Pakistan Stock Exchange (PSX) ended Monday on a bullish note, buoyed by strong corporate developments, expectations of robust earnings across key sectors, and continued investor confidence.
The benchmark KSE-100 Index surged by 1,017 points, or 0.72%, closing at a record high of 142,052.65.
Global markets overview
Asian markets extended their gains for a second consecutive session on Tuesday, while the US dollar remained under pressure as investor sentiment leaned toward potential stimulus measures by the Federal Reserve to support the US economy.
US equities also rallied on Monday, driven by upbeat corporate earnings and growing expectations of a rate cut by the Fed in September, especially after weaker-than-expected jobs data was released last Friday.
Meanwhile, oil prices remained subdued due to increased production from OPEC+ and renewed trade tensions, with US President Donald Trump threatening tariffs on India over its continued purchases of Russian oil.
Japan’s Nikkei rebounded, rising 0.5% after Monday’s sharp decline — its biggest in two months — as fresh data pointed to a significant increase in the country’s service sector activity in July.
MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.6% in early trade.
Odds for a September rate cut now stand at about 94%, according to CME Fedwatch, from a 63% chance seen on July 28. Market participants see at least two quarter-point cuts by the end of this year.
