PSX: Volatility keeps KSE-100 Index flat

The Pakistan Stock Exchange (PSX) experienced a volatile trading session on Friday, with the KSE-100 Index remaining relatively stable at the opening. At 9:55am, the index stood at 174,958.78, marking a 0.02% increase from the previous close. Investors exhibited buying interest in sectors like automobile assemblers, commercial banks, oil and gas exploration companies, and OMCs.

Prominent index-heavy stocks such as MARI, OGDC, PSO, DGKC, LUCK, MCB, and MEBL saw gains. Thursday had seen heightened volatility as rising international oil prices due to geopolitical concerns kept investors on edge. However, profit-taking in the late session did not fully erase a slight recovery in the KSE-100 Index. The benchmark index rebounded 153.09 points, or 0.09%, to close at 174,929.69.

Globally, Asian shares rallied ahead of key U.S. jobs data, while bonds saw some respite after a top Federal Reserve official eased concerns about further rate hikes and led the dollar lower. The dollar's decline boosted the yen, which had gained 2.6% this week to trade near 155.7 a dollar, close to the 155.2 level achieved following a joint Tokyo and Washington intervention in late July.

Fed Governor Christopher Waller, in remarks at a Reuters event, hinted at potential rate stability if subsequent reports supported easing inflation trends. Futures markets quickly adjusted, reducing the probability of a rate increase this month to just 50%, down from roughly 63% the previous day. This optimism was dampened by the fact that Asian indexes, while up 1% broadly, had still lost ground over the week.

Japan's Nikkei gained 0.8% but was down 2.7% weekly, while China's blue-chips rose 1%, and South Korea's KOSPI increased 1.1%.