Stocks remain robust, KSE-100 gains over 1,000 points in early trade

Buying rally continued at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index gaining over 1,000 points during the opening hours of trading on Friday. At 10:35am, the benchmark index was hovering at 161,704.79, an increase of 1,047.30 points or 0.65%. Buying was observed in key sectors including automobile assemblers, commercial banks, fertiliser, oil and gas exploration companies, OMCs, power generation and refinery. Index-heavy stocks, including OGDC, POL, PPL, PSO, WAFI, HBL and MCB, traded in the green. On a corporate front, the warring Board of Directors of K-Electric on Thursday put off its meeting after one group walked out of the meeting after approval of the first item of the proposed agenda, well-informed sources told Business Recorder. The primary intention of directors representing the government and AsiaPak was to make a decision regarding the removal of Chief Executive Officer (CEO) Syed Moonis Abdullah Alvi. The recent activities of some KE Board members have irritated Al-Jomaih Group of Saudi Arabia, which has already sent a legal notice of $2 billion to Islamabad.