The Pakistan Stock Exchange (PSX) kicked off the trading week with a robust upward trend, as the KSE-100 Index surged by more than 1,400 points during Monday’s early trading session.
By mid-morning, the benchmark index had gained 1,415.45 points or 0.87%, reaching 163,350.64.
The market witnessed strong overall buying momentum, particularly in auto assemblers, commercial banks, fertilizers, oil and gas exploration companies, OMCs, power generation, and refinery sectors. Stocks of ARL, Mari, OGDC, POL, PPL, PSO, SNGPL, SSGC, MCB, MEBL, and UBL all traded in the positive zone.
The rally followed last week’s strong close, where the KSE-100 Index climbed 2,342.29 points or 1.5%, ending at 161,935.19. The market’s upward trajectory continued on the back of solid performance from key sectors, with investor interest particularly strong in fertilizer stocks. According to reports, the ECC has approved shifting from expensive RLNG to Mari gas, which is expected to reduce subsidy pressures and stabilize urea prices.
Meanwhile, Asian markets began the week cautiously as investors assessed corporate earnings, U.S. economic data, and the outlook for interest rates. Concerns also persisted over the sustainability of the recent rally in artificial intelligence (AI)–linked stocks.
Expectations of an interest rate cut by the U.S. Federal Reserve in December slipped from 60% to 40% within a week amid unclear signals from policymakers, putting pressure on global equity markets.
The S&P 500 futures were up 0.3% in early trade.
Japan’s Nikkei index remained broadly stable, though tourist and retail stocks fell sharply after China advised its citizens to avoid travel to Japan. Shares of Isetan Mitsukoshi and Shiseido recorded declines of nearly 10%.
In Australia, BHP shares dropped 0.7% after a U.K. High Court ruling held the company liable for a dam collapse in Brazil. The decision weighed on the broader market, pushing the Australian index to a four-month low.
