Strong buying at PSX, KSE-100 up 2,200 points

Buying momentum was observed at the Pakistan Stock Exchange (PSX) with the benchmark KSE -100 Index gaining nearly 2,200 points during the opening minutes of trading on Friday. At 9:39am, the benchmark index was hovering at 167,688.60 points up by 2,171.09 points or 1.31%. Moreover, buying was observed in key sectors including chemical, food and personal care products and OMCs. On Thursday, PSX witnessed a lackluster yet highly volatile trading session, as the index closed slightly lower amid cautious investor sentiment driven by evolving geopolitical developments and sustained uncertainty in global markets. The benchmark KSE-100 Index declined by 293.50 points or 0.18 percent to close at 165,517.51 points. Internationally, Asian stocks ticked up early on Friday but gains ​were capped as traders questioned the durability of this week’s US-Iran ceasefire and remained wary of fragile hopes for ‌Israel-Lebanon peace talks. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.5%, led by a 1.9% jump for South Korea’s Kospi. Japan’s Nikkei 225 tacked on 1.5%, while S&P 500 e-mini futures reversed ​earlier losses to trade flat.