The Pakistan Stock Exchange (PSX) staged a strong recovery on Friday after early losses put investors on edge amid regional tensions.
The benchmark KSE-100 index closed sharply higher, gaining more than 1,500 points as buying returned across major market sectors. The rebound came despite concerns over Middle East tensions and rising oil prices.
According to market data, the KSE-100 index closed at 170,586.73 points, gaining 1,721.69 points, or 1.01%. A total of 271 stocks advanced, while 214 declined and 84 remained unchanged.
Broad-Based Recovery Lifts PSX
The recovery extended across several major market indices, reflecting renewed buying interest during the trading session.
The KSE-30 index rose 1.22%, while the KMI-30 index gained 1.57%. Meanwhile, the banking tradable index increased 1.01%.
The Oil & Gas Tradable Index also posted a notable gain of 1.75%, supported by buying interest across parts of the energy sector.
However, individual stocks delivered mixed performances despite the broader market recovery.
Among oil and gas exploration companies, Mari Energies, Oil & Gas Development Company and Pakistan Petroleum recorded gains. In contrast, Pakistan Oilfields declined during the session.
Oil marketing stocks also followed a mixed pattern. Attock Petroleum and Pakistan State Oil advanced, while Hascol Petroleum and Sui Southern Gas moved lower.
Middle East Tensions Keep Investors Cautious
The latest recovery followed a period of significant volatility at the exchange, as investors remained concerned about developments in the Middle East.
Market sentiment had come under pressure as escalating tensions raised fears about their potential impact on global oil supplies. Investors also remained mindful of the possible effects on Pakistan’s economy.
Oil prices added to those concerns earlier in the week after rising above $100 a barrel. The increase followed growing fears over potential disruptions to supplies and shipping routes.
However, oil prices retreated from their recent highs on Friday, helping ease some pressure on market sentiment. Despite the decline, Brent crude remained on course for a weekly gain of more than 7%.
The strong PSX rebound therefore marked a notable turnaround from the session’s earlier weakness. Buying across several key sectors helped the benchmark recover more than 1,500 points by the close.
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