A bullish trend was witnessed in the Pakistan Stock Market on Friday, as the benchmark KSE-100 Index surged by more than 1,100 points within minutes of the opening session.
By 11 AM, the benchmark index had climbed 1,141.37 points, or 0.69%, reaching 167,424.92 points.
Key sectors showed strong overall buying interest, including automobile assemblers, cement, fertilizers, commercial banks, oil & gas exploration companies, OMCs, and power generation. OGDC, Mari Petroleum, Hubco, ARL, NBP, SSGC, PPL, POL, and UBL all traded in the positive zone.
The positive momentum emerged after Saudi Arabia extended the maturity of its $3 billion deposit—originally due on December 8, 2025—by another year.
According to the State Bank of Pakistan (SBP), the extension will help strengthen Pakistan’s foreign exchange reserves and support the country’s economic stability and growth.
The central bank also reported that Pakistan’s foreign exchange reserves increased by $14 million last week, pushing total reserves to $14.57 billion.
On Thursday, the PSX showed gradual recovery as renewed buying interest supported major indices, enabling the market to regain strength after heavy institutional selling a day earlier. The benchmark KSE-100 Index had closed at 166,283.55 points—an increase of 138.20 points or 0.08%.
Meanwhile, on the global front, Japan’s Nikkei Index slipped on Friday, wiping out all gains made earlier in the week. Asian markets overall showed sluggish activity as weaker-than-expected spending data highlighted inflationary pressures, while expectations grew for an interest rate hike by the Bank of Japan.
The Nikkei 225 fell by 1.5%, heading toward a flat finish for the week. Outside Japan, the MSCI broad Asia-Pacific index fell 0.1%, though it remained on track for a 0.5% weekly gain.
