PSX edges higher as KSE-100 gains 347 points before Friday break

KARACHI: The Pakistan Stock Exchange (PSX) edged higher on Friday, with its benchmark KSE-100 Index gaining nearly 347 points as selective buying in major stocks lifted market sentiment ahead of the regular break for Friday prayers.

The benchmark index rose 346.70 points, or 0.21 per cent, to reach 166,532.86 points by early afternoon, compared with the previous close of 166,186.16. Trading was subsequently suspended for Friday prayers.

The modest increase kept the index above the 166,000-point mark, reflecting cautious optimism among investors as market participants awaited the resumption of trading later in the day.

During the morning session, the index fluctuated between an intraday low of 165,956.51 points and a high of 166,663 points. The narrow trading range indicated that investors were showing some willingness to buy shares, but were not making aggressive moves.

Market activity remained measured, with approximately 45.71 million shares changing hands at a traded value of around Rs3.53 billion when trading was suspended.

Selective buying supports market gains

Market participants attributed the advance to selective buying in a handful of large-cap stocks, which helped push the benchmark into positive territory.

However, the relatively modest gain suggested that investors remained cautious rather than committing heavily to equities. The session’s performance reflected a balance between buying interest and uncertainty over the market’s next direction.

The KSE-100’s ability to remain above 166,000 points provided a positive signal for the session, although traders were watching trading volumes and movements in major stocks for further indications of market sentiment.

The index’s intraday high of 166,663 points emerged as a near-term level to watch if buying momentum strengthened after the break. Meanwhile, the low of 165,956.51 points offered a reference point should selling pressure return.

Investors await market’s next direction

The suspension of trading for Friday prayers is a regular feature of the PSX’s Friday schedule. Market participants were expected to assess the direction of trading after activity resumed later in the afternoon.

Traders said the market’s next move would depend partly on whether buying interest broadened across sectors and whether trading volumes increased during the second half of the session.

A stronger recovery in volume could help sustain the upward movement, while continued subdued activity might keep the index within its narrow trading range.

For now, the benchmark’s advance offered a modest boost to market sentiment, with the KSE-100 maintaining its position above the 166,000-point level.

The session’s early performance, however, did not yet signal a decisive market rally, leaving investors focused on the post-break trend for clearer direction.