PSX rallies over 1,100 points in midday trading

KARACHI: The Pakistan Stock Exchange (PSX) maintained its upward momentum on Friday, with the benchmark KSE-100 Index gaining more than 1,100 points during midday trading.

The index climbed 1,136.74 points, or 0.69%, to reach 166,873.49 points, compared with the previous session’s closing level of 165,736.75.

During the session, the benchmark moved between an intraday high of 167,483.48 and a low of 165,907.29 points. Trading activity remained strong, with 190.98 million shares changing hands at a total value of Rs12.27 billion.

The market experienced some fluctuations in early trading as investors appeared to book profits following recent gains. Trading activity also slowed around prayer timings, contributing to a relatively quieter period.

Despite the early volatility, the benchmark remained firmly above its previous close, reflecting continued buying interest in the market.

Investors are now watching the afternoon session to see whether the upward trend will continue or selling pressure will emerge.

Market sentiment remains influenced by corporate earnings, economic indicators and developments in the global economy. However, no single factor appeared to drive the market’s midday performance.