PSX: Volatility at bourse, KSE-100 up nearly 300 points

A volatile trading session was observed at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index gaining nearly 300 points during the first half of the trading session on Friday. At 12pm, the benchmark index was hovering at 175,198.04, up by 268.36 points or 0.15%. Selling was observed in key sectors, including commercial banks, oil and gas exploration companies, OMCs, power generation and refineries. Index-heavy stocks, including HUBCO, POL, PPL, NBP and UBL, traded in the red. On Thursday, PSX remained highly volatile as rising international oil prices amid ongoing geopolitical conflicts kept investors cautious, although late-session profit-taking failed to erase a modest recovery in the benchmark KSE-100 Index. The benchmark KSE-100 Index gained 153.09 points, or 0.09%, to close at 174,929.69, Globally, Asian shares rose on Friday as investors embraced a global rally ahead of crucial U.S. jobs data, while bonds found some much-needed relief after a top Federal Reserve official cooled rate-hike fears and dragged the dollar lower. The dollar’s retreat turbocharged a rally in the yen, ‌which has gained 2.6% this week to trade at 155.7 a dollar, putting it within strik