The Pakistan Stock Exchange (PSX) kept up its winning streak on Thursday, with the KSE-100 index climbing past the 120,000 mark in early trading. By 9:35am, the index had reached 120,410 points — up 478 points, or 0.4%.
This rise builds on Wednesday’s strong performance, where the market jumped nearly 960 points. Thursday’s rally was driven by gains across several major sectors, including banks, oil and gas companies, power producers, auto manufacturers, and tech firms. Big names like HUBCO, MARI, POL, PSO, MCB, MEBL, and NBP all saw their stock prices go up, boosting overall market confidence.
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Investors are feeling hopeful as the federal budget approaches, with many expecting business-friendly policies. Analysts believe the market could continue rising, possibly moving toward 121,000 and beyond if this momentum continues.
On the other hand, global markets are showing signs of stress. In the U.S., concerns about rising debt levels are pushing long-term Treasury yields to their highest point in 18 months. Investors are nervous about President Trump’s proposed tax plan, which could add $3.8 trillion to the already massive $36 trillion national debt.
Adding to the pressure, Moody’s recently downgraded the U.S. credit rating, sparking a wave of caution in global markets. The U.S. dollar has weakened, and demand for U.S. bonds has dropped — shown by the lukewarm response to a recent $16 billion bond sale.
Asian markets also reflected this cautious mood: Japan’s Nikkei fell 0.7% as the yen gained strength, China’s main stock index dipped 0.2%, and Hong Kong’s Hang Seng index dropped 0.8% in early trading.
