The Pakistan Stock Exchange (PSX) opened the post-Eid trading session on a strong note on Friday, as renewed buying interest pushed the benchmark index sharply higher in early trade.
Investor confidence appeared to improve across key sectors, while global oil market movements also remained in focus amid falling crude prices.
By 12:24 pm, the index was trading at 173,150.11, an increase of 1,424.82 points or 0.83%.
Strong investor interest was seen across major sectors, including automobile assemblers, cement, oil and gas exploration companies, oil marketing companies (OMCs), and power generation firms. Key index-heavy stocks such as HUBCO, MARI, POL, HBL, and NBP traded in positive territory, supporting the upward trend.
Meanwhile, global oil markets remained under pressure as prices fell over 1% on Friday and were set for their sharpest weekly decline since early April.
The decline followed reports suggesting that the United States and Iran had agreed to extend a ceasefire, although the deal had not yet been finalized.
Brent crude futures for July slipped 1.1%, or $1.04, to $92.67 per barrel at 0330 GMT. US West Texas Intermediate (WTI) crude also declined by $1.26, or 1.4%, to $87.64 per barrel.
