The Pakistan Stock Exchange (PSX) closed higher on Friday after a volatile trading session, with the benchmark KSE-100 Index gaining 574.76 points, or 0.33%, to settle at 177,166.52 points.
The market opened on a positive note, with the index rising more than 800 points to reach an intraday high of 177,528 points. However, the gains quickly reversed, and the KSE-100 fell more than 400 points into negative territory by around 11:10 a.m.
The index remained largely flat for much of the session before recovering in the second half of trading.
Refinery stocks remained among the stronger performers after Petroleum Minister Ali Pervaiz Malik said the government was moving toward signing agreements with refineries within the next seven to 10 days.
The agreements are expected to advance long-delayed refinery upgrade projects, boosting investor interest in the sector.
However, several major sectors recorded selling during the session, including commercial banks and engineering stocks.
Separately, Pakistan’s Sensitive Price Indicator (SPI) increased 0.49% week-on-week for the week ended August 20, 2026.
On a year-on-year basis, the SPI recorded an increase of 9.66%, indicating continued pressure on consumer prices.
The PSX had closed lower on Thursday amid renewed geopolitical uncertainty and elevated international oil prices.
The KSE-100 Index fell 254.59 points, or 0.14%, to 176,591.77 points, as selling in heavyweight stocks outweighed selective buying.
Market volatility has also reflected broader global concerns, including uncertainty in international bond markets, rising oil prices and geopolitical tensions affecting Middle Eastern energy supplies.
Oil prices edged lower on Friday but remained on track for a second consecutive weekly gain amid continued concerns over disruptions to Middle Eastern oil supplies.
Brent crude futures fell 17 cents, or 0.18%, to $93.61 per barrel, while U.S. West Texas Intermediate crude declined 36 cents, or 0.41%, to $86.47 per barrel by 0802 GMT.
Brent was up more than 5.8% for the week, while WTI had gained around 4.8%. Both benchmarks had reached their highest levels since July 24 in the previous session.
The elevated oil prices and ongoing geopolitical uncertainty continue to influence investor sentiment in Pakistan and global markets.
