The Pakistan Stock Exchange (PSX) on Friday surged following two bearish sessions as the benchmark KSE-100 Index gained nearly 1,300 points.
At close, the benchmark index settled at 169,864.52, a gain of 1289.83 points or 0.77%.
Buying activity was noted across key sectors such as power generation, oil and gas exploration, OMCs, fertilizers, and commercial banks. Major index movers, including HUBCO, HBL, MCB, MEBL, NBP, MARI, and POL, also traded in positive territory.
On Thursday, the PSX experienced a mixed trading session, with most major indices ending lower as investors adopted a cautious stance, engaging in profit-taking amid uncertainty over market direction. The KSE-100 Index dropped 877.17 points, or 0.52%, closing at 168,574.69.
Meanwhile, the World Bank’s Board of Executive Directors approved $400 million in financing for a project aimed at delivering safely managed water, sanitation, and basic hygiene services in Punjab, while also strengthening the institutional and financial capacity of local urban administrations.
Moreover, the Pakistani rupee continued its winning streak against the US dollar with local currency gaining 0.01% against the greenback in the inter-bank market on Thursday.
At close, the local currency settled at 280.32, a gain of Rs0.04 against the dollar.
