Pakistan stocks end positive buoyed by strong earnings in cement sector

Pakistan stocks experienced an upward trend on Thursday, buoyed by strong earnings reports, and finished the day on a positive note.

The benchmark index initially surged, propelled by surprising earnings from the cement sector, which captured investor attention.

However, momentum waned in the latter half of the session as disappointing earnings reports from the pharmaceutical sector triggered a sharp decline in pharma stocks, dampening overall market sentiment.

Cement, oil & gas marketing companies, and textile composite sectors were the major contributors, collectively adding 497 points to the index.

Despite the late-session dip, the market closed on a high note, reflecting investor confidence in key sectors.

KSE-100 index gained 0.35% or 396.72 points to close at 113,739.16 points.

Indian stocks experienced a downturn once more, driven by significant selling pressure in the financial and IT sectors, which outweighed the gains seen in the metal and real estate sectors.

Meanwhile, Asian markets also faced declines, influenced by U.S. President Donald Trump’s proposed tariffs and the Federal Reserve’s decision to keep rate cuts on hold for the near future, affecting investor sentiment negatively.

BSE-100 index surged 0.22% or 52.07 points to close at 23,940.88 points.

DFM General Index shed 0.16% or 8.43 points to close at 5,380.21 points.

Commodities

Oil prices didn't change much in early trading due to worries about U.S. trade tariffs and a report showing an increase in U.S. crude oil supplies.

President Trump mentioned he might impose tariffs of 25% or more on cars, semiconductors, and medicines, which traders fear could harm the global economy and lower fuel demand.

Brent crude prices increased by 0.37% to $76.32 per barrel.

Demand for gold as a safe-haven asset is rising due to uncertainty in US trade policy and aggressive tariffs by the Trump administration.

Factors contributing to this trend include higher tariffs, geopolitical tensions, inflation concerns, central bank strategies, and strong interest from both central banks and retail investors.

International gold prices increased by 0.98% reaching $2,948.37 per ounce.

Currency

US dollar remained flat against PKR in the inter-bank market. Pakistani currency closed at 279.46. In the open market USD was trading at PKR 281.