ISLAMABAD: The Pakistan Stock Exchange (PSX) observed a bearish trend on Wednesday amid selling pressure, with the benchmark KSE-100 Index shedding over 900 points to close at 147,494.03.
The trading session began on a positive note, with strong early momentum pushing the KSE-100 Index to an intraday high of 149,237.91.
However, selling pressure later in the day wiped out those gains, sending the index to an intraday low of 147,337.02.
By the close of the session, the benchmark KSE-100 Index had lost 941.03 points, or 0.63%, to settle at 147,494.03.
A total of 856,664,471 shares were traded on the day as compared to 665,420,243 shares on the last working day, whereas the price of shares stood at PKR 29.286 billion against PKR 31.543 billion on the previous trading day.
As many as 477 companies transacted their shares in the stock market, 129 of them recorded gains and 312 met losses, whereas the share price of 36 companies remained unchanged.
The Pakistan Stock Exchange (PSX) ended Tuesday’s session in negative territory, with the KSE-100 Index shedding 380.24 points, or 0.26%, to close at 148,435.06. The session saw significant intraday volatility as investors stayed cautious.
Global markets
Asian equities traded cautiously on Wednesday as investors awaited Nvidia’s highly anticipated earnings report, which is expected to set the tone for near-term market sentiment.
The MSCI Asia-Pacific Index (excluding Japan) edged up 0.2%, Japan’s Nikkei remained largely unchanged, and Taiwan’s stock market gained 0.6%.
In China, blue-chip stocks rose 0.3%, holding near a three-year high, supported by continued strength in the tech sector.
US dollar weakens
The US dollar remained under pressure as concerns grew over the Federal Reserve’s independence.
The US Treasury yield curve has been steepening since Monday, when former President Donald Trump ordered the firing of Fed Governor Lisa Cook—an unprecedented move now facing legal resistance, with Cook’s legal team expected to challenge the decision in court.
Trump has been vocal in criticising Fed Chair Jerome Powell for not cutting rates. Powell’s recent comments were interpreted as dovish, fueling market expectations of a rate cut as early as September.
Futures markets are now pricing in an 84% probability of a cut next month, with over 100 basis points of easing anticipated by mid-2026.
Traders are bracing for a potential $260 billion swing in Nvidia’s market valuation following its earnings release.
Particular focus will be on the company’s operations in China, which have come under scrutiny due to a controversial profit-sharing agreement with the Trump administration.
With ongoing tensions in the Sino-US trade relationship and chip export restrictions, Nvidia’s performance in China remains a critical variable.
