The Pakistan Stock Exchange (PSX) on Friday bounced back after over 6,000-point dip on Thursday with the benchmark KSE-100 Index gaining over 1,800 points.
At close, the benchmark index settled at 184,174.48, up 1836.36 points or 1.01%.
Buying interest emerged across key sectors, including commercial banks, cement, fertilizer, oil and gas exploration companies, OMCs, power generation, and refineries. Heavyweight index stocks such as ARL, HUBCO, MARI, OGDC, POL, PPL, PSO, SSGC, SNGPL, MCB, MEBL, NBP, and UBL closed in positive territory.
On Thursday, however, the Pakistan Stock Exchange (PSX) witnessed a sharp and broad-based sell-off, as intense selling in heavyweight stocks dragged benchmark indices significantly lower, wiping out recent gains.
The benchmark KSE-100 Index plunged 6,042.27 points, or 3.21%, to close at 182,338.12 points.
Meanwhile, Prime Minister Shehbaz Sharif on Friday announced a series of measures aimed at strengthening Pakistan’s industrial base, trade, and exports.
The initiatives include a 300-basis-point reduction in the refinance rate for exporters to 4.5%, along with cuts in industrial power tariffs and wheeling charges.
Addressing leading exporters and business leaders, the prime minister outlined a broader roadmap to transition the economy from stabilization to sustained growth, as the government continues efforts to attract investment and boost exports.
In the currency market, the Pakistani rupee extended its gains against the US dollar, appreciating by 0.01% in the interbank market on Friday.
At close, the local unit settled at 279.77 per dollar, up Rs0.03 compared to Thursday’s close of 279.80.
