KARACHI: The Pakistan Stock Exchange (PSX) ended the trading session on a strong note as bullish momentum drove a sharp rise in the benchmark index on Friday.
The KSE-100 Index surged by 2,258 points to close at 173,983 points, with strong buying activity helping the market recover key psychological levels.
During intraday trading, the index also touched an intra-session high of 174,106 points.
Investor participation remained robust, with shares worth Rs40 billion changing hands as 549.8 million shares were traded in the session.
A total of 563 companies saw trading activity during the day, out of which 298 closed higher, while 161 recorded losses.
Two major psychological barriers were also reclaimed during the session, reflecting renewed investor confidence.
On the previous trading day (Monday), the benchmark index had closed at 171,725 points.
More read, KSE-100 surges 2.31% as diplomatic hopes, falling oil prices drive rally
Earlier, Pakistan stocks staged a powerful recovery as easing US-Iran tensions and a sharp drop in global oil prices reignited investor confidence following a weekend of positive diplomatic and economic developments.
The benchmark KSE-10 Index gained 2.31% or 3,881 points to close the session at 171,725 points.
An analyst at Ismail Iqbal Securities said the index closed higher supported by declining oil prices and expectations of easing US-Iran tensions. “Renewed diplomatic engagement progresses toward finalizing a lasting agreement boosting investor sentiment.”
An analyst at Topline Securities said investor confidence improved significantly following positive developments over the weekend regarding negotiations between Iran and the United States, with reports indicating that discussions may reach a conclusion in the near term.
