KARACHI:
The Pakistan Stock Exchange (PSX) rose on Friday, gaining more than 980 points after easing tensions between the United States and Iran lifted investor sentiment and reduced oil‑price concerns.
The benchmark KSE‑100 index rallied as much as 2,218 points during the session before profit‑taking trimmed some gains. Trading was active with around 949 million shares changing hands, and the value of traded shares reached Rs38.41 billion.
At the close, the KSE‑100 was up 982.10 points, or 0.54%, settling at 182,241.78.
Arif Habib Limited (AHL) noted that the index’s 982‑point rise helped the market close the week with a reduced week‑on‑week decline of 1.7%.
On the day, 76 stocks advanced while 24 declined on the KSE‑100. The biggest gainers were Meezan Bank (+2.46%), HBL (+1.82%) and UBL (+0.45%). The top laggards were Service Industries (‑1.64%), Sazgar Engineering (‑1.67%) and Sui Northern Gas Pipelines Ltd (‑1.65%).
Continuing diplomatic talks between the US and Iran over a permanent peace deal were keeping market optimism alive despite recent clashes. AHL projected the index range for the coming week to be 180,000–188,000.
Nawaz Ali of JS Global said the rebound was driven by buying at attractive levels. The index peaked intra‑day at 183,478 before profit‑taking pared gains.
Investors were buoyed by a decline in international crude oil prices following the easing of Middle‑East tensions. He advised a “buy‑on‑dips” approach provided the geopolitical situation remains calm.
Topline Securities highlighted that the KSE‑100 gained as oil prices fell on diplomatic progress, improving sentiment and easing concerns about prolonged tensions. The banking sector contributed the most, with Meezan Bank, UBL, HBL, MCB Bank and Askari Bank adding a cumulative 548 points.
In terms of value, the most active shares were Ghandhara Automobiles (Rs2.74 billion), Ghandhara Industries (Rs1.75 billion), UBL (Rs1.73 billion), Cnergyico Pk (Rs1.33 billion) and Maple Leaf Cement (Rs1.15 billion).
Overall trading volume slipped slightly to 948.78 million shares from 982.12 million in the previous session, while the total value traded remained at Rs38.41 billion. A total of 495 companies were traded, with 292 up, 169 down and 34 unchanged.
Cnergyico Pk led volume with 151.75 million shares, ending Rs0.29 higher at Rs9.69, followed by K‑Electric (67.53 million shares, up Rs0.16 to Rs8.10) and WorldCall Telecom (51.76 million shares, unchanged at Rs1.32).
Foreign investors bought shares worth Rs252.1 million, according to the National Clearing Company.
