PSX: Buying continues, KSE-100 up over 1,500 points

Business Recorder reported that buying carried on at the Pakistan Stock Exchange on Friday, lifting the KSE-100 by more than 1,500 points in the opening minutes of trade. At 10:30am the benchmark stood at 170,551.17, a rise of 1,507.98 points or 0.89%.

Buying interest spanned automobile makers, cement producers, banks, oil and gas explorers, oil marketing companies and power generators. Heavyweight index stocks LUCK, MCB, MEBL, NBP, UBL, MARI, OGDC, POL, PPL and PSO were all trading in positive territory.

The advance follows a rebound on Thursday, when the index added 1,021.40 points, or 0.61%, to close at 169,043.20, as softer global oil prices and signs of possible de-escalation in the US-Iran conflict lifted sentiment. Abroad, Asian shares advanced and the dollar was steady as policymakers keep working to curb inflation, while Brent crude slipped 1% to $103.77 a barrel.