ISLAMABAD (PEN) : The Pakistan Stock Exchange (PSX) continued its upward momentum on Thursday, with the KSE-100 Index gaining over 500 points early in the trading session. By 10 am, the index had climbed 549.54 points, or 0.48%, reaching 113,891.97. This rally was driven by strong buying interest across key sectors like automobile assemblers, commercial banks, and oil & gas exploration companies. Stocks such as HUBCO, PSO, and OGDC led the gains.
The positive trend from Wednesday, when the KSE-100 had closed up 253.96 points, carried into Thursday, reflecting investor confidence. However, on the global front, markets were facing challenges. Asian shares fell sharply, partly due to concerns over US President Trump’s proposed tariffs on sectors like pharmaceuticals and semiconductors, which dampened risk sentiment. This caused a rise in gold prices and saw safe-haven assets, like the Japanese yen, strengthen.
The uncertainty surrounding Trump’s trade policies and potential for a trade war has led to global market jitters, impacting not only Asia but also European stocks. Despite the global turbulence, the PSX remained buoyant, with local investors staying optimistic amidst the volatility. The situation highlights how local markets can sometimes decouple from global trends, driven by regional investor sentiment and sector-specific performances.
