PSX gains 446 points at midday

The Pakistan Stock Exchange (PSX) traded in positive territory on Friday morning before the market closed for the Jummah prayer break, with the benchmark KSE-100 Index gaining 446.44 points, or 0.25 per cent, to reach 177,769.21.

KARACHI: The Pakistan Stock Exchange (PSX) traded in positive territory on Friday morning before the market closed for the Jummah prayer break, with the benchmark KSE-100 Index gaining 446.44 points, or 0.25 per cent, to reach 177,769.21.

According to exchange data captured around midday, the index hit an intraday high of 177,833.12 and a low of 177,165.27.

The previous close was 177,322.77. First-session turnover stood at 98.50 million shares, with the traded value recorded at Rs7.48 billion.

The official board listed the market status as suspended, in line with Friday’s two-session timetable. The morning session runs until noon, after which trading pauses for Friday prayers before reopening in the afternoon.

On Thursday, late profit-taking wiped out an early rally and the KSE-100 slipped 47.93 points, or 0.03 per cent, to close at 177,322.78.

The session had started strongly on weaker oil prices and hopes of progress in US-Iran talks, but selling following corporate results pulled the index back.

Friday’s first session was more measured, with the benchmark remaining above Thursday’s close for most of the morning and holding just below the 177,800 level before the break.

Trading volume remained well below a full-day tally, as is typical before the second session, which on Fridays runs from about 2:32pm to 4:30pm.

Investors will watch whether afternoon trading can extend the morning gains or whether the market slips back into a narrow range.

Near-term market direction remains sensitive to geopolitical developments, oil prices and the ongoing corporate results season.

The first session left the KSE-100 modestly higher and near the 177,800 level as the bourse observed the Friday prayer break.