PSX: Buying continues, KSE-100 up over 1,800 points

Business Recorder reported that the PSX extended its buying run on Friday, with the KSE-100 more than 1,800 points higher during the first half of the session. At 12pm the index stood at 170,865.77, a gain of 1,822.58 points or 1.08%. Demand was visible in cement, power, car assemblers, banks, exploration firms and OMCs.

Thursday's session lifted the benchmark by 1,021.40 points, a 0.61% rise, leaving it at 169,043.20. Investors responded to cheaper global crude and signs that the US-Iran conflict could be cooling. Index-heavy names including LUCK, MCB, MEBL, NBP, UBL, MARI, OGDC, POL, PPL and PSO were also trading higher.

Globally, Asian shares advanced and the dollar held steady as oil stayed above $100 a barrel. Brent crude futures slipped 1% to $103.77 a barrel, while the 10-year US Treasury yield, after rising past 5% to a level not seen since 2007, was last at 4.936%. Japan's Nikkei rose 0.9% and South Korea's KOSPI jumped 2%, with monetary policy responses to inflation in focus this week.