Tariff relief, economic gains boost PSX trading
Business
KSE-100 index immediately gained 700 points and surpassed 117,000 mark
KARACHI (Dunya News) – The Pakistan Stock Exchange (PSX) began Tuesday’s trade on a positive note amid government’s announcement of economic gains.
The KSE-100 index immediately gained 700 points and surpassed 117,000 mark during early hours of trading.
It was 117,158 to be precise.
The PSX witnessed bullish trend on Monday – the first day of the week – and closed at 116,390 after gaining 1,536 points.
Across-the-board buying was observed in key sectors including automobile assemblers, cement, commercial banks, oil and gas exploration companies, OMCs and power generation.
Volatility continued in the PSX throughout the last week as the world was in the grip of heightened uncertainty sparked by tariff announcements by US President Donald Trump. Later, Trump announced 90-day reprieve, which paved the way for stocks’ recovery the world over.
Read more: PSX breathes easy after 90-day reprieve in Trump tariffs
Confidence of investors boosted in Pakistan after respite in tariffs announced by the US president, Prime Minister Shehbaz Sharif’s successful visit to Belarus and surge in remittances and other positive indicators announced by State Bank of Pakistan Governor Jameel Ahmad.
RECORD REMITTANCES IN CURRENT YEAR
State Bank of Pakistan (SBP) Governor Jameel Ahmad said on Monday the country received a record $28.07 billion from overseas Pakistanis during the current financial year.
Addressing a ceremony at the Pakistan Stock Exchange (PSX) here, he said the total remittances in the first nine months of the financial year 2024-25 were 33 percent higher compared to the same period a year ago.
The governor said remittances from overseas Pakistani were up by nearly 40 percent year-on-year in February 2025, to $3.12 billion. The country received a record $4.1 billion during March, he added.
According to SBP data, Pakistanis living in Saudi Arabia remitted the highest $987 million during March, followed by $842 million from the UAE, $684 million from the UK and $419 million from the US.
Meanwhile, Prime Minister Shehbaz Sharif expressed his pleasure as foreign remittances sent by overseas Pakistanis in a month crossed $4 billion mark for the first time in the country’s history, describing it as a reflection of their trust in the government’s policies.
