The Pakistan Stock Exchange (PSX) recorded another strong session on Wednesday, with the benchmark KSE-100 Index gaining over 900 points in early trade. The rally comes even as global markets remain under pressure from bond yield spikes, weak US manufacturing data, and tariff uncertainties.
At 10:15am, the index was trading at 151,899 points, up 923 points or 0.61%. Strong activity was seen in cement, banking, fertiliser, oil, and refinery stocks, as investors pinned hopes on continued economic stability and positive corporate results.
“This performance reflects the market’s resilience against global volatility,” said Waqas Ghani, Head of Research at JS Global. He noted that cement stocks drew strength from higher dispatches, while banks and autos remained strong on earnings and sales improvements.
The rally follows Tuesday’s surge of 1,004 points, which pushed the market past the historic 150,000 level.
Globally, investor caution dominated trading. Japan’s 30-year bond yield rose to a record 3.255%, while Wall Street declined after weak US factory data. Japan’s Nikkei slipped 0.5%, and Australia’s ASX 200 dropped 0.9% after weak GDP numbers. Meanwhile, gold hit a new high as demand for safe-haven assets grew.