PSX: KSE-100 marginally up in opening hours
Buying sentiment was observed at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index gaining nearly 200 points during the opening hours of trading on Tuesday. At 10:40am, the benchmark index was hovering at 166,126.56, up 160.48 points or 0.10%. Buying was observed in key sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration and OMCs.…
The Pakistan Stock Exchange (PSX) saw a marginal increase in its benchmark KSE-100 Index during the opening hours of trading on Tuesday. The index rose by nearly 200 points, reaching 166,126.56, marking an increase of 0.10% from the previous session. Key sectors observed buying sentiment, with automobile assemblers, cement, commercial banks, oil and gas exploration companies, and OMCs leading the gains.
Notably, index-heavy stocks such as OGDC, PPL, PSO, SNGPL, SSGC, HBL, MCB, MEBL, NBP, and UBL traded in the green. Additionally, Pakistan's GDP growth for the fiscal year 2026 stood at 3.65%, according to estimates released by the Pakistan Bureau of Statistics (PBS) on Monday. This growth figure was slightly lower than the 3.70% estimated by the National Accounts Committee (NAC).
Earlier in the day, the PSX had closed lower as selling pressure increased during the latter part of the trading session, causing the index to dip below the 166,000-point level. The KSE-100 Index closed at 165,966.09 points, marking a decline of 453.63 points, or 0.27%, from the previous day. Globally, Asian stocks experienced a general decline on Tuesday amidst geopolitical risks, with crude prices rising due to the US President Donald Trump's executive order waiving some sanctions and tariffs on Russian energy.
The MSCI Asia ex-Japan index fell by 0.93%, while Japan's Nikkei 225 dropped by 1.28%. South Korea's KOSPI also witnessed a significant drop of 3.61%. Looking ahead, corporate earnings are expected to provide further insight into consumer and economic resilience. Results from Meta, Tesla, and chipmakers Lam Research and Texas Instruments are anticipated in the coming week.
Meta, along with four other AI hyperscalers, is projected to collectively increase their capital expenditure to approximately $1.2 trillion next year, as per a report by Goldman Sachs. SpaceX is also scheduled to release its results on Tuesday. This report provides an update on the intraday trading activities at the PSX.
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