PSX: buying continues. KSE-100 up nearly 400 points
Buying interest was evident at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index gaining nearly 400 points during Friday’s opening hours. At 11:10am, the benchmark index was hovering at 166,552.85, up 366.69 points or 0.22%. Key sectors saw buying, including automobile assemblers, cement, commercial banks, oil and gas exploration companies, OMCs, power generation, and…
The Pakistan Stock Exchange (PSX) witnessed continued buying activity on Friday, with the KSE-100 Index surging nearly 400 points during the opening hours. At 11:10am, the index was trading at 166,552.85, up 366.69 points or 0.22% from the previous close. Key sectors, such as automobile assemblers, cement, commercial banks, oil and gas exploration firms, OMCs, power generation, and refineries, attracted significant buying interest.
Index-heavy stocks like ARL, HUBCO, MARI, POL PPL, PSO, HBL, MCB, MEBL, and UBL posted gains. The Federal Board of Revenue (FBR) extended the deadline for filing income tax returns for Tax Year 2026 to October 31, 2026, granting taxpayers an extra two weeks. While the benchmark KSE-100 Index climbed 768.66 points, or 0.46%, to close at 166,186.17 points, profit-taking in select stocks and heightened geopolitical tensions due to Houthi attacks on Saudi Arabia somewhat curtailed intraday gains.
Globally, Asian stocks rebounded after heavy selling the previous day, fueled by concerns over CoreWeave's debt load, which questioned the financing backing the AI boom. Meanwhile, bond markets stabilized after yields fell on Thursday, as investors flocked to Treasuries and other safe-haven sovereign debt. The dollar experienced its first weekly decline in five weeks, while gold eased from its Thursday peak.
Brent crude also dipped towards $105. Japan's tech-heavy Nikkei recovered some losses after a nearly 5% drop, while South Korea's KOSPI climbed 2.8%. Taiwan's benchmark index increased by 0.7%, and Hong Kong's Hang Seng added 1.1%. In contrast, US stock futures declined, with tech-focused Nasdaq futures dropping 0.3% and S&P 500 futures falling 0.1%, following slight gains on Thursday.
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