The Pakistan Stock Exchange (PSX) started Monday’s session on a firm footing, with the benchmark KSE-100 Index surpassing the 150,000-point level in early trade. The index briefly touched 150,079.75 before easing back.
By 9:50am, the KSE-100 was trading at 149,625.01 points, up 131.96 points or 0.09%. Market watchers reported active buying in key industries such as fertiliser, oil and gas exploration, power generation, and oil marketing. Leading stocks including HUBCO, POL, PPL, PAO, SNGPL, and WAFI all recorded gains.
The positive opening follows a strong previous week, during which the PSX surged to 151,262 points before settling at 149,493, a net rise of 3,001 points or 2% week-on-week, supported by upbeat earnings and strong participation from investors.
Asian equity markets mirrored the upbeat tone, encouraged by expectations that the US Federal Reserve is preparing to ease interest rates. Analysts said traders were also waiting for Nvidia’s earnings, which are seen as a key test for the technology sector’s high valuations.
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Federal Reserve Chair Jerome Powell’s recent remarks have strengthened market expectations for a September rate cut, with futures showing an 84% chance of a 25-basis-point reduction and further cuts projected by mid-next year.
Global investors were also watching upcoming US inflation data, with forecasts suggesting core prices could climb to 2.9%, their highest level in months. A stronger reading could dampen gains in bond markets, especially as the US Treasury prepares a significant $183 billion debt sale this week.
Across Asia, Japan’s Nikkei rose 0.6%, South Korea added 0.7%, and Australia’s market gained 0.4%. Chinese shares also advanced, with blue-chip stocks climbing 1% to push monthly gains close to 9%.