PSX Begins Week Above 150,000 Points
The Pakistan Stock Exchange (PSX) opened the week on a positive note as the benchmark KSE-100 Index briefly crossed the 150,000 mark during early trading on Monday. The index touched an intraday peak of 150,079.75 before easing slightly.
At 9:50am, the market was trading at 149,625.01, showing a gain of 131.96 points or 0.09%. Buying activity was noted in major sectors including fertiliser, oil and gas exploration, oil marketing companies, and power generation. Heavyweight stocks such as HUBCO, POL, PPL, PAO, SNGPL, and WAFI remained in the green.
Analysts noted that the PSX maintained its upward momentum from last week, when strong corporate earnings and investor interest helped the index climb to an intraday high of 151,262 points before closing at 149,493 – a weekly gain of 3,001 points or 2%.
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Internationally, Asian markets also showed optimism, buoyed by expectations of US interest rate cuts and anticipation around Nvidia’s upcoming earnings. Investors appeared encouraged by comments from Federal Reserve Chair Jerome Powell, with futures markets now pricing in an 84% likelihood of a rate reduction in September and further cuts by mid-2026.
Lower Treasury yields and a softer US dollar added to the positive sentiment, though experts warned that upcoming US inflation data could challenge the rally. Core inflation is expected to rise to 2.9%, the highest level since late 2023.
Among regional markets, Japan’s Nikkei gained 0.6%, South Korea’s benchmark rose 0.7%, and Australian shares edged up 0.4%. Chinese blue-chip stocks added 1%, contributing to a 9% monthly gain.
