KARACHI:
The Pakistan Stock Exchange (PSX) ended Friday on a modestly positive note, with the benchmark KSE-100 Index closing at around 175,330 points, up almost 400 points, after spending most of the session under pressure.
The KSE-100 Index closed at 175,328 points, up 0.24% DoD (+399 points), with 259 million shares traded. Trading activity remained concentrated in CNERGY, BOP, MLCF and PPL, which recorded volumes of 149 million, 13 million, 10 million and 9 million shares, respectively.
The session remained mixed, with the index trading under pressure for most of the day before recovering towards the close, said Ahmed Sheraz of KASB KTrade.
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Sector-wise, commercial banks, oil & gas and cement stocks contributed positively, while refineries remained a drag on overall market sentiment. Among individual stocks, MEBL, BAHL, MARI, PPL, and OGDC closed higher.
Brent crude continued to hover around $95-$96/bbl, keeping energy prices a key concern for the market. With no fresh escalation in the US-Iran situation, geopolitical tensions remained relatively contained; however, the usual Friday profit-taking and cautious participation kept volumes subdued and selling pressure intact during the session.
Looking ahead, the market is expected to remain sensitive in the next week to geopolitical developments, domestic economic and political developments, and persistently elevated energy prices. Volatility is likely to remain elevated, with direction largely dependent on how these factors evolve.
