ISLAMABAD (PEN) : The buying momentum at the Pakistan Stock Exchange (PSX) extended into Wednesday’s trading session, with the benchmark KSE-100 Index crossing the 121,000 mark amid optimism over successful talks with the International Monetary Fund (IMF)* concerning the upcoming federal budget.
KSE-100 Index Gains Over 800 Points Early Wednesday
By 9:55 a.m., the KSE-100 Index was trading at 121,268.64 points, up 817.77 points or 0.68%. Key sectors driving the positive trend included automobile assemblers, commercial banks, fertiliser companies, and oil and gas exploration firms.
Leading stocks such as Mari Petroleum (MARI), Oil & Gas Development Company (OGDC), Pakistan Petroleum Limited (PPL), Pakistan Oilfields (POL), Sui Northern Gas Pipelines Limited (SNGPL), Sui Southern Gas Company (SSGC), Habib Bank Limited (HBL), and National Bank of Pakistan (NBP) were actively trading in positive territory.
New Records Set Amid Budget Optimism and ADB Funding
The upward trajectory follows Tuesday’s close when the KSE-100 reached an all-time high, ending at 120,451 points, a gain of 1,573.07 points or 1.32%, and crossing the 120,000-point threshold on closing for the first time. The market rally was further supported by the Asian Development Bank’s (ADB)* approval of $800 million in funding for Pakistan.
Global Market Overview
Internationally, Asian stock markets showed modest gains on Wednesday as investors monitored developments in the ongoing US-China trade tensions. The MSCI Asia-Pacific index (ex-Japan) rose by 0.6%.
South Korea’s benchmark KOSP index surged over 2%* to its highest level since August 2024, buoyed by the election of liberal candidate Lee Jae-myung, whose victory raised hopes for economic reforms and stimulus measures.
Japan’s Nikkei 225 climbed 0.8%, and Taiwan’s stock market jumped 1.6% following strong US market performance driven by gains in technology stocks, including artificial intelligence leader Nvidia.
US Economic Data and Trade Talks in Focus
Recent data revealed a complex US labor market, with job openings rising in April but layoffs also increasing, reflecting growing economic uncertainty amid escalating tariffs. Investor attention remains on a potential upcoming phone call between US President *Donald Trump* and Chinese leader *Xi Jinping*, as trade tensions continue to influence global markets.
Last Friday, President Trump accused China of violating a Geneva agreement on tariffs and trade restrictions, adding further uncertainty to the trade dialogue.
Summary: The Pakistan Stock Exchange’s strong start to the week reflects investor confidence fueled by positive budget talks with the IMF and international financial support, amid cautious optimism on the global trade front.
