Strong buying seen across key sectors
KARACHI: The Pakistan Stock Exchange witnessed strong buying momentum on Friday, with the benchmark KSE-100 Index gaining nearly 2,200 points during the opening minutes of trading.
By 9:39am, the KSE-100 Index stood at 167,688.60 points, reflecting an increase of 2,171.09 points or 1.31 percent. The sharp rise signaled renewed investor confidence following recent market volatility.
Moreover, investors actively bought stocks in major sectors, including chemicals, food and personal care products, and oil marketing companies (OMCs). Consequently, the broad-based rally helped lift overall market sentiment early in the session.
Analysts noted that improved investor activity and selective buying in blue-chip stocks contributed to the upward trend. In addition, expectations of economic stability and easing uncertainty supported the market’s positive start.
Previous session volatility and global cues influence sentiment
Meanwhile, the previous trading session on Thursday remained lackluster and volatile. The benchmark index closed slightly lower, shedding 293.50 points or 0.18 percent to settle at 165,517.51 points. Investors adopted a cautious approach due to evolving geopolitical developments and uncertainty in global markets.
Furthermore, international markets provided mixed signals. Asian stocks edged higher on Friday; however, gains remained limited as traders questioned the durability of the US-Iran ceasefire and remained cautious about fragile prospects for Israel-Lebanon peace talks.
MSCI’s Asia-Pacific index outside Japan rose 0.5 percent, supported by a 1.9 percent surge in South Korea’s Kospi. Similarly, Japan’s Nikkei 225 advanced 1.5 percent, while S&P 500 e-mini futures traded flat after earlier losses.
