KARACHI – Pakistan Stock Exchange (PSX) witnessed another milestone as the benchmark KSE-100 stock index closed at all-time high of 118,938 points after big relief in electricity prices.
The development comes after early-day uncertainty when market remains under pressure over reciprocal tariffs imposed by US President Donald Trump. Thursday session was marked by volatility, with trading resuming after the Eid holidays.
The market initially faced selling pressure as investors assessed the potential impact of the tariffs, causing KSE-100 index to drop to an intra-day low of 117,508.07 points. However, investor sentiment turned positive later in the day following an announcement from the federal government regarding a reduction in electricity tariffs, which gave the market a much-needed boost. The index rebounded, reaching an intra-day high of 119,179.45 points before settling at 118,938.11 points, up 1,131.37 points or 0.96%.
Pakistan Stock Exchange
President Trump’s announcement on Wednesday that he was imposing tariffs on a broad range of imports, including key trading partners like China and the European Union, sparked immediate global backlash. Several countries, including US allies like Australia and Italy, condemned the move, with many nations vowing to retaliate. Pakistan was also affected, facing a 29% reciprocal tariff.
Despite the initial uncertainty, the announcement of reduced electricity tariffs by Prime Minister Shehbaz Sharif helped restore confidence in the market. The Prime Minister revealed that electricity prices for residential consumers would drop by Rs7.41 per unit, bringing the cost to Rs34.37 per unit, while commercial users would see a reduction of Rs7.59 per unit.
Before Eid, Pakistan Stock Exchange saw a negative close due to profit-taking, with the KSE-100 index declining by 635 points or 0.05% to 117,807 points.
What are new electricity unit rates for households, industries in Pakistan?
