PSX Rebounds After Two-Day Decline, KSE-100 Rises Over 500 Points

The Pakistan Stock Exchange (PSX) recovered on Friday after falling for two consecutive sessions, with the benchmark KSE-100 Index gaining more than 500 points.

At the close of trading, the KSE-100 Index settled at 176,094.11, up 546.13 points or 0.31%.

Buying interest was seen across several major sectors, including automobile assemblers, cement, commercial banks, fertilizer, oil and gas exploration companies, oil marketing companies (OMCs), power generation and refineries.

The positive session came after a weak trading day on Thursday, when investors remained cautious due to uncertainty over ongoing diplomatic engagements between the United States and Iran and their possible impact on regional stability.

On Thursday, the KSE-100 Index fell 495 points, or 0.28%, to close at 175,547.98 in a range-bound session.

Meanwhile, international oil prices declined on Friday, although both major crude benchmarks remained on track to post monthly gains of around 20%.

Brent crude futures fell $1.03, or 1.2%, to $88.00 per barrel by 0215 GMT. US West Texas Intermediate (WTI) crude also dropped $1.50, or 1.8%, to $82.09 per barrel.