Buying momentum continued at the Pakistan Stock Exchange (PSX) on Friday as the benchmark KSE-100 Index surged over 500 points in early trading, reflecting strong investor confidence.
At 9:35am, the index stood at 169,047.83, gaining 533.39 points (0.32%). Investors showed active interest across major sectors, including commercial banks, fertiliser, oil and gas exploration, and power generation.
Key stocks such as HUBCO, MARI, POL, BoK, MCB, and JSBL traded in positive territory, driving the early upward trend.
The previous session also saw a strong rally, with the KSE-100 Index rising by 3,683.02 points (2.23%) to close at 168,514.45. The surge was supported by improved investor sentiment, driven by optimism over US-Iran talks and easing global oil prices.
Global markets remained broadly positive. Asian shares advanced, with MSCI’s Asia-Pacific index (excluding Japan) up 0.3%, while Japan’s Nikkei gained 2%. US stock futures rose 0.2% and European futures added 0.8%.
However, geopolitical uncertainty continued to influence trading, particularly concerns over potential disruptions in the Strait of Hormuz, a key global oil shipping route. Oil price volatility also impacted inflation and interest rate expectations worldwide.
US Secretary of State Marco Rubio said talks on Iran showed progress but acknowledged that significant differences remain over uranium stockpiles and maritime controls.
