KARACHI:
The Pakistan Stock Exchange traded higher in the first half of Friday’s session, with the benchmark KSE-100 Index advancing 1,380 points to 176,930 before trading was suspended for Friday prayers.
KSE-100 Index advanced 1,378 points, 0.79%, to 176,926 before trading suspension.
The index opened on a firm note and touched an intraday high of 177,108.66 before settling near the day’s levels. It found support near 176,405.33 during the morning session. Trading volume stood at 101.86 million shares, while the value of shares traded reached Rs6.96 billion. The previous close was 175,547.98.
Market status remained suspended at mid-day, in line with the usual Friday prayer break observed by the exchange.
Investors appeared to focus on selective buying even as Iran’s army claimed a drone attack on US facilities at a Kuwait air base. According to Iranian statements, the strikes targeted fighter aircraft hangars, satellite communication systems and equipment warehouses.
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The positive move comes after recent sessions marked by volatility linked to regional geopolitical developments and fluctuations in international oil prices. The KSE-100 had closed lower on Thursday at 175,547.98 amid cautious sentiment.
Broader market indicators also showed gains by mid-day, with the All-Share Index up and other key benchmarks trading in positive territory. Activity remained moderate compared with recent peak volumes, reflecting the shortened session.
Trading is to resume after the prayer break, with market participants watching both domestic cues and further updates on Middle East developments for the remainder of the day.
