PSX: KSE-100 gains 374 points amid volatile trading

Business Recorder reported that the Pakistan Stock Exchange stayed volatile during Friday's session, with the KSE-100 closing at 177,696.50 points after gaining 373.73 points, or 0.21 per cent. The index swung between a low of 177,165.27 points and a high of 178,042.78 points, first sliding under selling pressure before a second-half buying spell lifted it. Profit-taking later pulled the benchmark back toward the 177,300 to 177,400 range, though the week still finished in positive territory.

On Thursday the index had closed at 177,322.78 points, down 47.93 points or 0.03 per cent, as late profit-taking erased early gains. Across the region, Taiwanese shares rose 1.2 per cent after a sharp overnight jump in Nvidia, while South Korea's KOSPI fell 1 per cent. Brent eased 0.1 per cent to $89.63 a barrel and was on course for a weekly decline of more than 5 per cent.

Attention abroad was on Federal Reserve chair Kevin Warsh, who was due to speak at the Jackson Hole Symposium, with futures pointing to roughly a 35 per cent chance of a rate increase at the September 16 meeting. Crude oil was also set for a weekly loss after Iran and Oman reached an understanding on managing traffic through the Strait of Hormuz and sharing revenues. Washington, however, appeared unwilling to restart direct negotiations with Tehran.