PSX settles higher as KSE-100 adds nearly 1,000 points
- Benchmark index settles at 182,241.77
The Pakistan Stock Exchange closed Friday with gains despite intraday volatility, capping a positive week. Global markets saw mixed performance amid geopolitical tensions and strong tech sector growth.
- Pakistan Stock Exchange's volatile trading and weekly gains.
- Global market reactions to geopolitical tensions and oil price shifts.
- Record remittances inflow for Pakistan in FY26.
The Pakistan Stock Exchange (PSX) saw another volatile trading session on Friday, with the benchmark KSE-100 Index surrendering a large portion of its intraday gains despite closing the week in the positive zone.
The benchmark index opened on a strong note, extending the previous session’s recovery as aggressive buying in key index-heavy stocks propelled the market sharply higher. During the first half of the trading session, the KSE-100 climbed steadily, hitting its intraday high of 183,477.57.
However, the bullish momentum faded during the afternoon session as investors opted to book profits following the sharp early gains. Selling pressure gradually intensified after midday, erasing a significant portion of the early gains.
At close, the benchmark index settled at 182,241.77, up 982.10 points or 0.54%.
Pakistan received a record $41.6 billion in workers’ remittances during fiscal year 2025-26 (FY26), marking the highest annual inflow in the country’s history.
On Thursday, PSX witnessed a volatile trading session but managed to recover most of its early losses as selective buying in blue-chip stocks helped the market stabilise following Wednesday’s sharp selloff triggered by escalating geopolitical tensions in the Middle East.
The benchmark KSE-100 Index settled at 181,259.68 points, down 369.69 points or 0.20%.
Globally, Asian stocks rose sharply on Friday, led by chip and AI firms as investors brushed off concern over the stalled recovery of energy supplies through the critical Strait of Hormuz, with tit-for-tat attacks escalating between the US and Iran.
The renewed back-and-forth attacks have further eroded the fragile three-week-old ceasefire, bringing the spotlight back on oil prices and what it could mean for inflation and the global rates outlook.
Brent crude futures were set for a 5% rise in the week, their strongest weekly performance since early May. But at $76.03 per barrel, Brent has given up most of the gains it picked up when the conflict began at the end of February.
Japan’s Nikkei rose 1.8% while South Korea’s KOSPI, the epicentre of the AI rally, gained 2.4% in early trading. Chip bellwethers SK Hynix and Samsung were both up 3%. Taiwan markets were closed.
That left the MSCI’s broadest index of Asia-Pacific shares outside Japan 0.76% higher.
Comments