KSE-100 Rebounds Over 1,000 Points Before Friday Prayer Break
Benchmark index gains 1,060 points to reach 178,434 as buying returns to banking and energy shares
KSE-100 Index rebounds by more than 1,000 points during Friday trading at the Pakistan Stock Exchange.
The Pakistan Stock Exchange (PSX) staged a strong recovery on Friday, with the benchmark KSE-100 Index gaining more than 1,000 points before trading paused for Friday prayers.
The index stood at 178,434.59 points at noon, up 1,060.83 points, or 0.60%, from the previous close.
The market opened lower during the morning session. However, buying interest gradually strengthened and pushed the index higher. It touched an intraday low of 176,865.05 before reaching a high of 178,434.59.
By the 12pm suspension, the index had recovered all the losses recorded during Thursday’s session.
Banking and Energy Shares Lead Recovery
Trading volume in the ready market reached approximately 90 million shares. Meanwhile, the total value of traded shares stood at around Rs9.83 billion.
Buying activity appeared in commercial banks, oil and gas exploration companies, oil marketing companies and refineries.
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Several index-heavy stocks traded in positive territory. These included ARL, PRL, MARI, POL, PSO, SSGC, HBL, MCB, NBP and UBL. MARI emerged as a notable gainer.
Market Recovers After Thursday’s Sharp Decline
The rebound followed a volatile session on Thursday. The KSE-100 initially moved towards the 180,000-point level.
However, renewed selling pressure later erased the gains. Domestic political uncertainty contributed to investor caution, while the index eventually fell 1,710 points to close at 177,373.76.
On Friday, investors showed selective interest in energy and banking shares after the previous session’s profit-taking.
Market participants will now watch the afternoon session to assess whether the recovery continues. However, caution may persist as the index trades near recent highs.
