KARACHI
\nThe Pakistan Stock Exchange (PSX) maintained a bullish drive in the last session of the two-day week, due to the long Eidul Azha break, pushing the benchmark KSE-100 index above the 174,000-point level intraday on Friday.
\nAli Najib, Deputy Head of Trading at Arif Habib Ltd (AHL), said the PSX witnessed strong buying interest, with the benchmark KSE-100 index rising 2,238 points, or 1.30 per cent, to close at 173,963 after hitting a high of 174,106.35, a gain of 2,381 points, early in the session.
\nThe market opened on a strong footing as investor sentiment improved amid encouraging progress in ongoing US-Iran negotiations and falling international oil prices. Broad-based buying followed positive developments over the Eid holidays, with expectations of a potential diplomatic breakthrough continuing to fuel optimism across the market.
\nOn the corporate front, Fauji Fertiliser rose by Rs21.75 (4pc) after signing a $1.1bn agreement with China\u2019s Hualu to establish a coal-based fertiliser project under CPEC 2.0.
\nToday\u2019s rally was larg\u00adely driven by FFC, Engro Holdings, Lucky Cement, Engro Fertiliser, Bank Al-Habib, Habib Bank, Mari Energies,TRG Paki\u00adstan, Services Industries and Millat Tractor Ltd, which collectively contributed 1,773 points to the benchmark.
\nOverall market participation remained stable, with traded volume rising 9.61pc to 555 million shares and turnover surging 31.24pc to Rs40.8bn. TRG Pakistan topped the volume chart with 34.1m shares.
\nThe KSE-100 index recorded a handsome weekly gain of 6,119 points (3.65pc). During the week, the benchmark reached an intra-week high of 174,106 and a low of 170,162.
\nTopline Securities Ltd said a positive session was observed at the exchange amid optimism that the US and Iran are about to close a peace deal.
\nDevelopments in the peace negotiations will remain a key market driver, with improving diplomatic momentum and easing oil prices supporting investor sentiment. However, uncertainty over a final agreement may keep regional markets volatile in the near term.<\/p>\n","protected":false},"excerpt":{"rendered":"
KARACHI The Pakistan Stock Exchange (PSX) maintained a bullish drive in the last session of the two-day week, due to the long Eidul Azha break, pushing the benchmark KSE-100 index above the 174,000-point level intraday on Friday. Ali Najib, Deputy Head of Trading at Arif Habib Ltd (AHL), said the PSX witnessed strong buying interest, […]<\/p>\n","protected":false},"author":2,"featured_media":505883,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-548781","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\n