PSX edges higher as KSE-100 gains 234 points

Summary

•   Pakistan Stock Exchange (PSX) ended Friday’s trading session slightly higher, with the benchmark KSE-100 Index adding 233.55 points as selective buying in banking, technology and fertiliser stocks helped offset losses in oil and gas and cement shares.
• However, losses in Oil and Gas Development Company (OGDC), Lucky Cement (LUCK), Meezan Bank (MEBL), Pakistan Telecommunication Company Limited (PTC) and Engro Holdings (ENGROH) offset much of those gains, collectively dragging the index down by 223 points.
• He noted that selective buying in banking, technology and oil and gas stocks helped sustain the index, while weakness in cement shares and selling pressure in several heavyweight stocks restricted further gains.

AI Generated Summary

Pakistan Stock Exchange (PSX) ended Friday’s trading session slightly higher, with the benchmark KSE-100 Index adding 233.55 points as selective buying in banking, technology and fertiliser stocks helped offset losses in oil and gas and cement shares. However, elevated crude oil prices, geopolitical tensions and uncertainty over the State Bank of Pakistan’s upcoming monetary policy decision kept investors cautious.

The benchmark index rose 0.14% to close at 166,419.72 points, reflecting a modest recovery rather than a broad-based market rally. Investors remained reluctant to make aggressive moves amid concerns over rising energy costs and the potential impact of inflationary pressures on interest rates.