Pakistan Stock Exchange posts modest gains on select buying
KARACHI: The Pakistan Stock Exchange (PSX) eked out gains on Friday as investors hunted for value despite persistent geopolitical tensions. Meanwhile, before the formal start of the fourth review of the $7bn Extended Fund Facility (EFF) and the third review of the $1.4bn Resilience Support Facility (RSF), beginning on Monday, the International Monetary Fund (IMF) sought approximately 174…
The Pakistan Stock Exchange (PSX) saw modest gains on Friday as investors sought value despite ongoing geopolitical tensions, according to Dawn Business. Before the IMF's review of the $7bn Extended Fund Facility and $1.4bn Resilience Support Facility, the International Monetary Fund requested around 174 amendments to financial sector laws to enhance governance.
The KSE-100 index, which closed flat, fluctuated between 169,891 and 171,160, reflecting cautious investor participation. Topline Securities Ltd noted the market remained range-bound due to investors' preference for sidelines amid high oil prices and stalled US-Iran negotiations. Habib Bank, United Bank, Bank Alfalah, Bank Al-Habib, and PSO contributed to the index's gains, while Meezan Bank, Fauji Fertiliser, Hub Power, Pakistan Telecommunication Company, and Cnergyico PK erased points.
Investor sentiment remained cautious, with trading volume down 36.47% and turnover value falling 29.97%.
Brief written by urgent.news from Dawn Business's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
