Buying momentum strengthened at the Pakistan Stock Exchange (PSX) on Friday, pushing the benchmark KSE-100 Index more than 1,800 points higher.
At noon, the index stood at 170,865.77 points, gaining 1,822.58 points, or 1.08%. PSX data also showed the index had crossed 170,900 during the session.
Major Sectors Support KSE-100 Rally
Strong buying emerged across several key sectors during Friday’s session.
Automobile assemblers, cement companies, commercial banks, oil and gas exploration firms, oil marketing companies and power generators remained in demand.
Index-heavy stocks including LUCK, MCB, MEBL, NBP, UBL, MARI, OGDC, POL, PPL and PSO traded in positive territory.
The broad-based buying followed Thursday’s strong rebound at the stock exchange. The KSE-100 gained 1,021.39 points, or 0.61%, to close at 169,043.19.
Global Markets Improve Investor Sentiment
Positive sentiment also extended across Asian markets on Friday.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.55%. Japan’s Nikkei gained 0.9%, while South Korea’s KOSPI climbed 2%.
Investors remained focused on inflation and central bank policy as oil prices continued to influence global markets.
Brent crude futures fell 1% to around $103.77 per barrel as investors assessed possible alternative routes for Middle Eastern oil supplies.
However, concerns over regional tensions remained, including the possibility of further strikes involving Saudi Arabia and Yemen’s Houthis.
US Treasury Yields Remain Elevated
Investors also took cues from a rally on Wall Street, led by technology stocks that had recently faced heavy selling.
Meanwhile, US bond prices stabilised after a sharp selloff earlier in the week.
The 10-year US Treasury yield moved above 5% before easing to around 4.936%. Higher yields remain an important factor for global investors as markets assess inflation and interest-rate expectations.
PSX Gains Follow Strong Thursday Session
The latest rally extends the recovery seen at the PSX during the previous session.
On Thursday, easing oil prices and signs of possible de-escalation in the US-Iran conflict supported investor sentiment. The KSE-100 subsequently gained more than 1,000 points.
The index opened Friday at 169,043.19 and continued climbing as buying spread across major sectors. Official PSX data showed the index at 170,542.47 around 10:33am, up 1,499.28 points.
By noon, the benchmark had extended its advance to more than 1,800 points, reflecting continued buying interest across the market.
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