Upward momentum persists, KSE-100 gains nearly 300 points in early trade
Buying rally continued at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index gaining nearly 300 points during the opening hours of trading on Friday.
At 10am, the benchmark index was hovering at 119,259.25, an increase of 287.85 points or 0.24%.
Positive momentum was observed in key sectors, including cement, chemicals, commercial banks, fertilisers, oil and gas exploration companies, OMCs, and power generation. Index-heavy stocks including HUBCO, NRL, PRL, PSO, MARI, OGDC, PPL, HBL, NBP, MCB and UBL traded in the green.
On Thursday, the Pakistan Stock Exchange (PSX) closed in the green zone, as investors remained strong due to various domestic and international reasons. The benchmark KSE-100 Index gained 638.50 points or 0.54% to settle at 118,971.40 points.
Internationally, stocks slipped in Asia on Friday, and the US dollar dropped with Treasury yields as investors digested an appeals court's decision to keep President Donald Trump's tariffs in effect, a day after markets rallied on a separate ruling blocking most of them.
Japan's Nikkei saw the most pronounced selling, after experiencing the most pronounced buying on Thursday, with moves in the exporter-heavy index exacerbated by the ebb and flow in demand for the safe-haven yen.
Asian shares, US dollar climb on rosy data, tech optimism
The United States Court of Appeals for the Federal Circuit in Washington temporarily reinstated Trump's duties on Thursday while it considers the government's appeal.
The Nikkei dropped 1.7% in the Asian morning, putting it basically back at Wednesday's closing level.
The yen strengthened about 2% from its low on Thursday to last change hands at around 143.48 per US dollar.
A stronger yen reduces the value of overseas revenues.
Hong Kong's Hang Seng sank 1.4% and mainland China's blue chip index eased 0.3% in early trading.
South Korea's KOSPI fell 0.5%.
MSCI's broadest index of Asia-Pacific shares outside Japan was off 0.4%.
This is an intra-day update
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