Investors remained cautious during the early trading session at the Pakistan Stock Exchange (PSX) on Tuesday, where the benchmark KSE-100 Index traded on a flat note.
By 10 a.m., the benchmark index had inched up by 2.65 points, reaching 161,689.83 points. Buying activity was observed in key sectors including automobile assemblers, commercial banks, oil and gas exploration companies, and OMCs. Stocks such as SNGPL, POL, SSGC, UBL, NBL, HBL, and WTL were seen trading in the positive zone.
According to the State Bank of Pakistan, the current account deficit for October stood at $112 million, primarily due to a sharp rise in imports and a decline in exports.
It is worth noting that on Monday, the KSE-100 Index had closed with a decline of 248.01 points, settling at 161,687.18 points.
On the global front, Asian markets came under pressure during early Tuesday trading, as financial markets awaited the release of key U.S. economic data, delayed due to the government shutdown. Meanwhile, investors have pulled back expectations of a possible interest rate cut by the U.S. Federal Reserve next month.
Asian stocks broadly traded lower on Tuesday as markets looked toward the delayed U.S. economic indicators—especially the crucial non-farm payrolls report for September, due on Thursday—which investors hope will provide insight into the health of the world’s largest economy.
Regional attention also remained on Japan, where newly appointed Prime Minister Sanae Takaichi is set to meet Bank of Japan Governor Kazuo Ueda for the first time since taking office last month. Ueda has hinted at a possible interest rate hike as early as next month, while Takaichi and her Finance Minister Satsuki Katayama have emphasized maintaining lower rates until inflation stabilizes at the Bank of Japan’s 2% target.
The MSCI Asia-Pacific index (excluding Japan) dropped 0.7%, while Japan’s Nikkei index declined by more than 2%.
