The Pakistan Stock Exchange (PSX) continued its record-breaking run as the benchmark KSE-100 Index surpassed the 137,000 mark on Tuesday, gaining nearly 1,200 points at the opening of trade.
At 9:35 AM, the KSE-100 Index was trading at 137,684.28, up by 1,181.75 points (0.87%).
Strong buying activity was observed across major sectors at the start of the session, including automobile assembly, commercial banks, oil and gas exploration companies, oil marketing companies (OMCs), power generation, and refineries. Heavily weighted stocks such as ARL, Hubco, Mari, PPL, POL, PSO, MCB, MEBL, NBP, and UBL were trading in the positive zone.
A strong bullish trend was also seen on Monday, driven by institutional investments and growing investor confidence, which propelled the market to a new historic high. The KSE-100 Index jumped by 2,203 points (1.64%) on Monday, closing at 136,502.54.
Globally, Asian stock markets also showed gains. At the same time, the US dollar held its value as trade negotiations remained a focal point this week amid the release of key US inflation data and corporate earnings reports.
Oil prices experienced a slight dip in the global market following US President Donald Trump’s 50-day deadline for Russia to end the war in Ukraine and threats of energy sanctions. Meanwhile, Japanese government bond yields hit multi-decade highs as key upper house elections approach.
Trump also signaled readiness for trade talks despite threats to impose a 30% tariff on the European Union and Mexico starting August 1. Japan’s government is seeking high-level talks with US officials this week, likely scheduled for Friday.
According to National Australia Bank strategist Rodrigo Catril, market reaction has remained relatively calm despite tariff uncertainties, and US corporate earnings this week are expected to shape the market’s direction.
The MSCI’s broad index of Asia-Pacific stocks, excluding Japan, rose 0.4%, while US markets ended the previous session with modest gains. Japan’s Nikkei index also climbed 0.2%.
Meanwhile, the European Union has accused the US of hindering trade agreement efforts and warned of potential countermeasures if a deal is not reached. However, President Trump has expressed willingness for further negotiations with the EU and other trade partners.
According to the Yomiuri newspaper, Japanese Prime Minister Shigeru Ishiba is expected to meet US Treasury Secretary Scott Bessant in Tokyo on Friday to hold tariff negotiations ahead of the August 1 deadline.
