The Pakistan Stock Exchange (PSX) experienced another volatile session on Friday, with the benchmark KSE-100 Index ending the week lower by 555 points.
The index started the day on a positive note, quickly rising to an intraday high of around 155,002 points, reflecting strong early buying activity.
However, the momentum could not be sustained, and the market soon moved into a downward trend as selling pressure began to build.
By the close of trading, the KSE-100 Index settled at 153,866.16 points, down 555.27 points or 0.36%.
Meanwhile, the Pakistani rupee posted a marginal gain against the US dollar in the interbank market on Friday.
The local currency closed at 279.31 per dollar, strengthening by Re0.01 compared to Thursday’s closing rate of 279.32.
Moreover, oil prices headed for weekly gains as of Friday, despite the US trying to ease supply concerns by issuing a 30-day license for countries to buy Russian oil and petroleum products stranded at sea.
Brent futures for May rose 10 cents, or 0.1%, to $100.56 a barrel by 0400 GMT, heading for about a 9% weekly increase.
