The Pakistan Stock Exchange (PSX) opened higher on Tuesday, with the benchmark KSE-100 Index gaining nearly 1,200 points in early trading. At 10:55 am, the index stood at 158,734.28, up by 1,179.62 points or 0.75%.
Buying momentum was seen across multiple sectors, including automobiles, cement, commercial banks, oil and gas exploration, power generation, and OMCs. Key stocks such as HUBCO, MARI, OGDC, POL, PPL, PSO, MCB, MEBL, and UBL all traded in the green.
The rally comes a day after the index closed lower due to profit-taking, shedding 482.71 points to settle at 157,554.66. Market analysts suggest investors are reacting positively to stronger global cues and renewed optimism in regional equities.
Globally, Asian markets remained buoyant, supported by a surge in technology shares. Nvidia’s announcement of a $100 billion investment in OpenAI fuelled momentum across chip sectors.
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South Korean shares gained nearly 9% this month, while Taiwan rose close to 7%. MSCI’s Asia-Pacific index, excluding Japan, advanced 0.3%, up 5.5% for September.
Gold also extended its rally, hitting a record $3,755.47 per ounce, reflecting investor confidence in safe-haven assets as U.S. interest rate cuts remain in focus.
Meanwhile, Pakistan has sought unilateral tariff concessions from China on around 700 items under the third phase of the China-Pakistan Free Trade Agreement (CPFTA).
The request aims to offset the erosion of Pakistan’s preferential access as China expands FTAs with other trade partners.