The Pakistan Stock Exchange (PSX) witnessed a positive trend on Wednesday, as improved investor confidence, strong corporate earnings, and better macroeconomic indicators lifted sentiment. During early trading hours, the benchmark KSE-100 Index recorded a gain of over 500 points.
At 10:35 a.m., the benchmark index was up by 515.92 points, or 0.31%, reaching 167,862.75 points.
Buying activity was observed across key sectors, including cement, oil and gas exploration companies, OMCs, power generation, pharmaceuticals, and refineries. Major index movers such as Attock Refinery Limited (ARL), Mari Petroleum, OGDC, PPL, PSO, SNGPL, SSGC, and HBL were all trading in the green zone.
On Tuesday, the PSX had also extended its rally for a second consecutive session, driven by investor optimism following the recent ceasefire agreement between Pakistan and Afghanistan. The KSE-100 Index had closed 1,103.93 points (0.66%) higher at 167,346.83 points.
On the global front, international stock markets saw slight declines on Wednesday, while gold prices retreated from recent highs as investors engaged in profit-taking after a sharp rally.
Geopolitical developments remained in focus, with reports that a planned summit between U.S. President Donald Trump and Russian President Vladimir Putin had been postponed. Meanwhile, uncertainty continued surrounding Trump’s potential meeting with Chinese President Xi Jinping.
Gold, which has seen a remarkable surge of over 50% this year, experienced a pullback as investors booked profits. The metal’s earlier rally had been fueled by global economic and political uncertainty and expectations of a possible U.S. interest rate cut, prompting investors to seek safe-haven assets.
In Asian markets, the MSCI Asia-Pacific Index (excluding Japan) fell 0.24%, while Nasdaq futures dropped 0.2% and S&P 500 futures slipped 0.07%.
In corporate news, Netflix shares tumbled 6% after the company’s third-quarter earnings fell short of expectations, whereas General Motors shares jumped 15% after it raised its profit forecast for the year.
Across European markets, Euro Stoxx 50 futures fell 0.5%, while FTSE futures dipped 0.15% and DAX futures declined 0.26%, reflecting a cautious global trading mood.
