PSX Rebounds Above 170,000 as KSE-100 Gains 1,823 Points
Pakistan Stock Exchange (PSX) building in Karachi as the KSE-100 Index rebounds above 170,000 points.
The Pakistan Stock Exchange (PSX) extended its rebound on Friday morning, with the benchmark KSE-100 Index gaining 1,822.58 points, or 1.08%, to reach 170,865.77.
Trading paused for Friday prayers after the index touched an intraday high of 170,903.94. The benchmark recorded an intraday low of 169,399.98.
KSE-100 stocks recorded a volume of 82.04 million shares, with the traded value reaching around Rs6.70 billion. The index had closed at 169,043.19 in the previous session.
Broad-Based Buying Lifts Market
Friday’s gains followed Thursday’s 1,021-point advance. Softer international oil prices and hopes of a possible de-escalation in the US-Iran conflict supported market sentiment.
Falling crude prices also eased concerns over potential disruptions to Saudi oil supplies. The improved outlook encouraged fresh buying across several major sectors.
Oil Prices Fall for Third Day as Saudi Supply Concerns Ease
Automobile assemblers, cement companies, commercial banks, oil and gas exploration firms, oil marketing companies and power generators led the advance.
Several index-heavy stocks traded higher, including Lucky Cement, MCB Bank, Meezan Bank, National Bank of Pakistan, UBL, Mari Energies, OGDC, POL, PPL and PSO.
KSE-100 Regains 170,000 Level
The latest rally pushed the KSE-100 back above the 170,000-point mark. The benchmark had faced significant volatility in recent sessions amid higher oil prices and regional geopolitical tensions.
Other major market indices also moved higher. The KSE-30 Index gained 1.07%, while the KMI-30 Index advanced 1.12% by midday.
Market activity remained orderly during the shortened first session. The PSX halted trading around 1pm for Friday prayers, following its regular Friday schedule.
Investors will now monitor whether the buying momentum continues after the trading break. Softer oil prices and developments in the Middle East could influence sentiment in the next session.
Despite the recovery, the KSE-100 remains lower on a year-to-date basis. However, Friday’s advance helped the benchmark recover part of its recent losses.
