KSE-100 Index gains 1%
KARACHI: Buying momentum was observed at the Pakistan Stock Exchange (PSX) on Friday, with the benchmark KSE -100 Index gaining 1% as investor sentiment improved on hopes of possible talks between Iran and the United States in Pakistan, raising expectations of easing regional tensions and reducing risks to energy supplies.
The index started the session with strong buying, hitting an intra-day high of 168,290.28, followed by some range-bound trading.
At close, the benchmark index settled at 167,191.37, up by 1,673.86 or 1.01%.
Optimism over talks between the US and the Iran continued to dominate investor sentiment, Topline Securities said in its post-market report.
Top positive contribution to the index came from MCB, BOP, UBL, LUCK, OGDC and HBL, as they cumulatively contributed 616 points to the index, it added. Staff Report
