PAKISTAN – (Special Correspondent/Web Desk) – KSE-100 index today opened on a strong note, touching an intraday high of 178,431.73 points, up 3,145.95 points or 1.79 percent. The lowest point of the day stood at 175,672.33, still showing a gain of 386.55 points or 0.22 percent. This upward move came right after Brent crude price today settled near $84.50 a barrel in London, rising 0.7 percent and climbing close to 11 percent over the week.
Market watchers say the early rally reflects a calmer mood among traders. Oil prices had spiked sharply after fresh tensions between the US and Iran, but they steadied soon after, easing fears of a major supply shock. Huzaifa Riaz, Director at Mayari Securities (Pvt) Limited, explained that investors are now watching how things unfold, much like they did during earlier phases of US-Iran friction.
He also pointed out that attention is slowly turning toward the upcoming earnings season. Many analysts expect this period to bring fresh momentum to specific sectors, especially as companies release their quarterly results in the coming weeks.
Thursday’s gains followed an already strong session on Wednesday, when the KSE-100 index closed 1,766.97 points higher, or 1.02 percent, settling at 175,285.78. This back-to-back rise shows growing investor confidence, even as global oil markets remain sensitive to Middle East developments.
The rise in Brent crude price today came after fresh US strikes on Iran overnight, adding another layer of tension to an already volatile region. Washington’s attacks and Tehran’s retaliatory strikes on US bases in Kuwait and Jordan have kept global energy markets on edge. This ongoing conflict is shaping how investors think about oil prices and their wider effect on global interest rates.
While Pakistan’s stock market showed resilience, the picture abroad looked mixed. European markets slipped slightly on Thursday, following a shaky session in Asia’s tech sector. South Korea’s KOSPI dropped sharply by 6 percent, as doubts grew over how long the AI-driven rally can continue. Japan’s Nikkei also fell, and Europe’s STOXX 600 moved lower too.
On a brighter note, Taiwan’s chip giant TSMC posted stronger-than-expected earnings, offering some relief to tech investors. Meanwhile, US futures pointed to a steady restart on Wall Street, supported by solid earnings from major banks and renewed interest in big technology stocks.
Soft producer price data from the US for June, paired with mild consumer inflation numbers a day earlier, also helped calm fears of an interest rate hike. Traders have now lowered the odds of a rate increase this month to around 10 percent, a sharp drop from the 43 percent seen just weeks ago.
Still, experts caution that this sense of calm could be short-lived. If oil and gas prices keep climbing due to worsening Middle East tensions, inflation worries could return quickly, putting pressure on both local and global markets once again.
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