The Pakistan Stock Exchange (PSX) maintained its bullish momentum on Tuesday as strong investor buying pushed the benchmark KSE-100 Index higher during the early hours of trading.
In the morning, the index rose by 483.78 points or 0.29%, reaching 168,545.97 points.
The buying trend remained robust across the market, with notable interest seen in key sectors including automobile assemblers, cement, commercial banks, fertilizers, oil & gas exploration companies, and OMCs. Heavyweight stocks such as MCB, HBL, POL, OGDC, Mari, MEBL, and UBL also traded in the positive zone.
It is worth noting that on Monday, the PSX recorded strong gains in the first session of December, as institutional buying drove up market capitalization, trading volumes, and major indices. During the session, the KSE-100 Index surged by 1,384.50 points, closing at 168,062.19.
Meanwhile, global markets showed mixed trends on Tuesday. International equity markets saw slight gains, but overall investor sentiment remained cautious due to a downturn in the crypto market and selling pressure in the global bond market amid expectations of potential interest rate hikes in Japan.
S&P 500 futures remained stable in early trading, while Japanese government bonds continued to face pressure. A persistent downturn ahead of the auction of 10-year bonds has raised new concerns for Japan’s financial outlook, with 10-year JGB yields climbing to 1.88%, the highest level in 17 years.
In the cryptocurrency market, Bitcoin dropped sharply by 5.2% on Monday, falling to $87,000 — nearly 30% below its October peak.
In Asian markets, MSCI Asia-Pacific (excluding Japan) Index gained 0.6%, while Tokyo’s Nikkei Index also recovered 0.5% after a major decline on Monday.
