Bulls continued his stampede on the exchange floor on Friday when the actions in the Pakistan bag (PSX) increased more than 1,800 points in a historical maximum in intra -trade trade.
The KSE-100 reference index increased 1,855.30, or 1.56 percent, to stand at 120,793.41 of the previous closure of 118,938.11 at 9:59 am.
Mohammed Sohail, executive director of Topine Securities, said Dawn.com That despite the fall of the world markets, the index crossed the barrier of 120,000 “amid the expectations of better profits after the government reduced energy rates”, as well as the promise to resolve the circular debt.
Yousuf M. Farooq, director of research at Chase Securities, said that the market had largely shrunk the rates imposed by the United States and, instead, celebrated the decrease in electricity prices.
Yesterday, Prime Minister Shehbaz Sharif announced an RS7.41 cut per unit in energy rates throughout the country in an “important” aid package to reduce the burden of citizens who face exorbitant electricity bills.
For industries, he declared that electricity prices would be reduced by RS7.69.
Farooq said: “In addition, the lowest prices of oil and coal have further encouraged the feeling around the actions,” and added that inflation expectations had been further reduced in response to the fall in energy costs.
“As these expectations decrease, the market is likely to anticipate a gradual re-scalification driven by the potential of lower interest rates in the future,” he said.
With regard to US tariffs, he said: “While Pakistan is not so directly exposed to the US. Like other countries, it is still important to monitor the second round effects of these rates, particularly the potential slowdown in key commercial partners and a possible fall in remittance tickets.”
The president of the United States, Donald Trump, imposed on Thursday a 29 percent rate on the goods that imports from the United States of Pakistan, along with the tariffs of dozens of countries, from rivals to allies, intensifying a global commercial war.
According to Topline Securities, Pakistan exports represented 0.16pc of total US imports of $ 3.36 billion in 2024.
He stressed that countries such as Vietnam, Bangladesh, Sri Lanka and India had 4.2pc, 0.26pc, 0.09pc and 2.7pc actions.
“Although Pakistan imports in the US are only 0.16pc of the total imports of the USA. UU. However, the number is quite significant from the perspective of Pakistan,” he said. “Pakistan exports to the US are $ 6 billion annually, 18 percent of the country’s total exports.”
In addition, he said that textile comprises 75 to 80 percent of Pakistan exports to us.
While other exported products include leather, surgical products, rice, cement, steel and salt products.
Previously, the actions had reached a historical maximum of 118,000 points after the announcement of the prime minister of a “important” energy relief package to reduce the burden of citizens.
The oil established for the worst week on Trump’s tariff coup
Petroleum prices fell more than 1 percent, and were on their way to the worst week in the new tariffs of the president of the United States, Donald Trump, fueling concerns that a global commercial war could harm the demand for oil.
Brent Futures Lcoc1 fell 76 cents to $ 69.38 per barrel by 0532 GMT, while the future intermediate raws of US West Texas Clc1 fell 78 cents, or 0.5pc, at $ 66.13. Brent was ongoing for his largest weekly loss in percentage terms since the week ending on October 14 and WTI from the week ending on January 21.
While the long -awaited Trump fee announcement sank crude oil prices, the impact was more severe in other places. The investors rushed to the safety of the bonds, the Japanese yen and the gold, since the news sent shock waves through the world financial markets.
The dollar index, which measures the US currency against six other units, fell to 102.98, is lower since mid -October.
“The weakness is appearing in futures contracts of longest date. The differentials of six months and 12 months have contracted abruptly,” BMI analysts said in a note on Friday.
“Tariffs have affected harder in emerging key economies that represent a significant market for the growth of oil consumption.”
The bearish feeling was a decision of the organization of oil exporting countries and its allies (OPEC+) to advance in its oil production increase plan, and the organization now aims to return 411,000 barrels per day to the market in May, compared to 135,000 BPD as initially planned.
More to follow
