PSX: KSE-100 trades flat

Business Recorder reported that the KSE-100 index was almost unchanged at midday on Friday, standing at 176,621.25 after a gain of 29.49 points, or 0.02 per cent. Investors bought into carmakers, cement, bank stocks, fertiliser, oil marketing firms and refiners. The session was described as volatile during its first half.

Index heavyweights ARL, MARI, FFC, HBL, MEBL, NBP and UBL were trading in positive territory. The benchmark had closed 254.59 points, or 0.14 per cent, lower on Thursday at 176,591.77. Fresh geopolitical unease and higher crude prices had made traders cautious, and selling in heavy stocks outweighed selective buying.

Across the region, most Asian share indices were on track for weekly declines as strain in worldwide debt markets showed no clear signs of letting up. US Treasury yields climbed again, and the Nikkei slipped 0.8 per cent, extending its weekly loss to 4.4 per cent. Higher yields raise borrowing costs and can weigh on corporate valuations, the report noted.