ISLAMABAD (PEN) : The Pakistan Stock Exchange (PSX) witnessed a significant uptick on Thursday, with the benchmark KSE-100 Index climbing over 1,100 points during intra-day trading. The bullish trend aligned with global equity markets, which reacted positively after a U.S. federal court halted former President Donald Trump’s proposed tariffs.
As of 11:50 AM, the KSE-100 was trading at 119,440.75, marking a gain of 1,107.85 points or 0.94%.
Broad-Based Gains Across Key Sectors
Investor sentiment remained upbeat across the board, with substantial buying observed in major sectors such as automobile assembly, cement, commercial banking, oil and gas exploration, oil marketing companies (OMCs), and power generation. Notable performers included blue-chip stocks like HUBCO, MARI, OGDC, PPL, SNGPL, SSGC, MCB, MEBL, and NBP—all of which recorded gains.
This rally follows a modest rise earlier in the week, when the KSE-100 index added 112 points ahead of budget-related speculation and expectations for a real estate relief package in the upcoming federal budget. The market remained closed on Wednesday due to the Yaum-e-Takbeer public holiday.
Global Markets Respond to US Court Ruling
Asian markets surged on Thursday after a ruling from the U.S. Court of International Trade blocked the implementation of President Trump’s proposed “Liberation Day” tariffs. The court found that Trump exceeded his legal authority by imposing sweeping tariffs on imports from countries with trade surpluses against the U.S.
Although the White House has appealed the decision and may escalate the case to the Supreme Court, the ruling offered temporary relief to global investors and helped drive equity markets higher.
Japan’s Nikkei climbed 1.7%, while South Korean shares rose 1.2% to a nine-month high. MSCI’s index of Asia-Pacific shares outside Japan edged up 0.3%, and Chinese blue chips gained 0.5%.
In Europe, futures for the EUROSTOXX 50 rose 1.1%, FTSE futures increased 0.7%, and DAX futures advanced 0.9%. U.S. markets also responded positively, with S\&P 500 futures up 1.6% and Nasdaq futures gaining 1.9%, buoyed in part by strong earnings and an optimistic revenue forecast from chipmaker Nvidia.
Outlook
Market analysts expect sentiment at the PSX to remain positive in the near term, bolstered by global cues and domestic budget expectations. However, they caution that political developments and macroeconomic indicators will continue to play a key role in driving investor behavior.
