ISLAMABAD: Buying continued at the Pakistan Stock Exchange (PSX) on Friday, with the benchmark KSE-100 Index crossing the 134,000 mark amid a gain of over 550 points.
Positive momentum was seen across key sectors such as automobile assembly, power generation, refinery, and oil and gas marketing companies. Major index contributors — including ARL, PRL, HUBCO, PSO, SNGPL, and SSGC traded in the green.
At the close of trading, the benchmark KSE-100 Index settled at 134,335.62, marking an increase of 553.28 points or 0.41 percent.
On Friday, a total of 695,980,890 shares were traded, compared to 941,719,946 shares on the previous trading day. The price of shares stood at PKR 35.400 billion, against PKR 36.060 billion on the previous working day.
As many as 475 companies transacted their shares in the stock market, 232 of them recorded gains and 232 met losses, while the share price of 11 companies remained unchanged.
On Thursday, the Pakistan Stock Exchange (PSX) staged a strong recovery as bullish sentiment returned to the market. Investor confidence was visibly renewed, fueled by optimism surrounding the upcoming corporate earnings season and a decline in long-term government bond yields.
The benchmark KSE-100 Index surged by 1,205 points, or 0.91%, closing at 133,782.35.
On the global front, US and European stock futures declined during Asian trading on Friday after President Donald Trump intensified tariff threats against Europe and Canada, dampening an early rally in regional markets.
The US dollar strengthened against both the euro and the Canadian dollar following Trump’s announcement late Thursday of a 35% tariff on all Canadian imports starting August 1. He also indicated that the European Union would receive a similar notice by Friday.
Trump, whose sweeping tariff measures have disrupted global trade and policymaking, proposed raising blanket tariffs on other nations to 15% or 20%, up from the current 10%.
In response, futures for the Nasdaq and S&P 500 each dropped by around 0.4%, while EUROSTOXX 50 futures also declined by 0.4%.