Shafaqna Pakistan: The Pakistan Stock Exchange opened with modest gains on Wednesday, as investors remained cautious amid rising tensions in the Middle East.
The sentiment was influenced by US President Donald Trump’s warning that military action against Iran could still be possible, even after he delayed a planned strike to allow space for negotiations.
The benchmark KSE-100 index rose by 519.67 points to reach 163,416.35, a 0.32 percent increase from the previous close of 162,896.68 points.
A day earlier, the market had turned bullish, gaining 1,091.66 points, or 0.67 percent, to close at 162,896.68 points, compared with 161,805.02 points in the previous session, according to Pakistan Stock Exchange Limited data.
During the trading session, the ready market recorded a volume of 391.935 million shares with a traded value of Rs22.975 billion, compared with 499.795 million shares worth Rs19.438 billion in the previous session. Market capitalisation also increased to Rs18.081 trillion from Rs17.990 trillion a day earlier.
Out of 480 active companies in the ready market, 262 advanced, 171 declined, and 47 remained unchanged.
On the other hand, Asian stocks fell for a fourth straight session on Wednesday as war-driven inflation fears hammered bonds, while investors awaited earnings from Nvidia to see whether the world’s most valuable company might help markets navigate higher borrowing costs.
The sell-off in global bond markets persisted overnight as investors ramped up bets that the Federal Reserve may need to increase interest rates this year. The benchmark 10-year Treasury yield hit a 16-month high of 4.687% overnight, while the 30-year yield climbed to 5.198%, levels not seen since 2007.
Source: Dunya News
