After a day of sharp losses, positive momentum returned to the Pakistan Stock Exchange (PSX) on Tuesday, as the benchmark KSE-100 Index gained more than 800 points in early trading.
According to reports, at 10:30 am, the benchmark KSE-100 Index rose by 817.62 points, or 0.45 percent, to reach 183,201.76 points. Buying activity was observed across key sectors, including automobile assemblers, commercial banks, fertilizer, oil and gas exploration and production companies, oil marketing companies (OMCs), and the power generation sector. Stocks such as Hubco, Mari, OGDC, POL, PPL, PSO, SSGC, HBL, NBP, and UBL were trading in the positive zone.
It is worth noting that on Monday, the KSE-100 Index closed at 182,384.15 points, down by 2,025.52 points, or 1.1 percent.
On the global front, Asian markets traded higher on Tuesday, supported by a rally in Japanese stocks as investor confidence strengthened on expectations related to artificial intelligence (AI). Japan’s Nikkei Index surged 3.4 percent after a holiday, reaching a record high, driven by a weaker yen and expectations of fiscal stimulus. Markets in South Korea and Taiwan also touched record highs, while China’s blue-chip shares climbed to their highest level in four years.
Excluding Japan, the MSCI Asia-Pacific ex-Japan Index rose 0.8 percent to close at a new record high.
In European markets, Euro Stoxx 50 futures were up 0.2 percent, DAX futures gained 0.1 percent, while FTSE futures showed no significant change.
