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…
On Friday, the Pakistan Stock Exchange (PSX) experienced modest gains despite geopolitical tensions and high crude oil prices. The International Monetary Fund (IMF) requested around 174 amendments to laws to enhance financial sector governance as the $7bn Extended Fund Facility (EFF) and $1.4bn Resilience Support Facility (RSF) underwent reviews.
Topline Securities Ltd noted the market's range-bound activity due to investors preferring to stay on the sidelines. Habib Bank, United Bank, Bank Alfalah, Bank Al-Habib, and PSO collectively contributed 206 points to the index, while Meezan Bank, Fauji Fertiliser, Hub Power, Pakistan Telecommunication Company, and Cnergyico PK were responsible for 152 points.
Cnergyico PK led trading volume, with 108.2 million shares exchanged. Investors were cautious due to geopolitical tensions and crude oil price volatility, with the KSE-100 index closing flat at 171,160. Saudi Arabia, Türkiye, and Pakistan planned to meet to support Saudi Arabia amid Yemeni Houthis' attacks, while Iran distanced itself from the Houthi advance.
PTI postponed its march to Islamabad due to security personnel deployment and road blockades. PSO's FY26 earnings per share declined 28% year-on-year due to lower sales, higher losses, higher petroleum prices, and weaker LNG segment performance.
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