PSX: KSE-100 trades flat after early gains fade

Business Recorder reported that the Pakistan Stock Exchange saw a choppy session on Friday, with the benchmark KSE-100 index staying roughly flat in the first half of trading. The index opened higher and reached a day high of 168,134.12 before sustained profit-taking pulled it back. At 12pm it was hovering at 167,427.78, a decline of 14.12 points or 0.01 per cent.

On Thursday, a sharp jump in global crude prices, driven by Middle East tensions, set off widespread selling at the PSX. The KSE-100 lost 1,138.50 points, or 0.68 per cent, to finish at 167,441.91. Asian equities were heading for a second consecutive weekly fall, with Brent crude at $103.70 a barrel in Asian trade after rising more than 4 per cent the previous session.

President Donald Trump said Thursday that Washington will hold off on attacking Iran until after November's midterm elections, though traders remain doubtful about progress toward ending the conflict. Across Asia-Pacific, MSCI's broadest regional index excluding Japan slipped 0.16 per cent, while Japan's Nikkei dropped more than 1 per cent. Overnight, technology shares dragged Wall Street's key benchmarks lower after reports suggested OpenAI's annualised revenue came in $20 billion under earlier company guidance.