After a day of decline, the Pakistan Stock Exchange (PSX) witnessed a strong rebound on Tuesday, with the benchmark KSE-100 Index gaining over 1,600 points by midday.
At 12:45 PM, the KSE-100 Index had surged by 1,619.05 points or 1.17%, reaching 139,836.63 points. The upward trend was fueled by active buying in key sectors including commercial banking, cement, oil and gas exploration, oil marketing companies (OMCs), power generation, and refineries.
Leading gainers included Mari Petroleum, OGDC, PPL, POL, PSO, SNGPL, Hubco, MCB, and MEBL—all trading in the green zone.
On Monday, the market started the week with volatility. The decline was attributed to profit-taking by investors ahead of the July-end and a cautious stance following a record-breaking rally. The KSE-100 Index closed 379.78 points or 0.27% lower at 138,217.58 points.
Globally, Asian stock markets on Tuesday hovered near a four-year high, buoyed by Wall Street’s record close and optimism around upcoming corporate earnings reports. Investors were also watching ongoing tariff negotiations between the U.S. and its trade partners.
Japan’s stock market saw a brief spike at the opening bell before settling into modest gains. Bond markets remained relatively stable as election outcomes were largely priced in, and investor concerns turned out to be less severe than anticipated. The yen recovered 1% on Monday, recouping some recent losses, and was last reported steady at 147.46 against the U.S. dollar.
The MSCI Asia Pacific Index excluding Japan reached its highest level since October 2021 during early trading hours, though it saw little movement afterward. The index has gained nearly 16% so far this year.
On Monday night, the S&P 500 and Nasdaq closed at record highs, driven by gains in Alphabet and other major tech stocks. Investors are now awaiting multiple corporate earnings reports this week.
Market focus remains on the tariff negotiations deadline of August 1, while the European Union is also considering a broader range of retaliatory measures against the United States.
