PSX: buying continues. KSE-100 up over 300 points

Buyers were active on the Pakistan Stock Exchange on Friday, pushing the KSE-100 more than 300 points higher in the opening half of trade. At midday the benchmark stood at 166,532.86, a rise of 346.70 points or 0.21 per cent. Gains came across several sectors, from carmakers and cement producers to lenders, energy explorers, fuel marketers, power generators and refiners, with index heavyweights HBL, MCB, MEBL and UBL trading higher.

The Federal Board of Revenue pushed back the income tax return deadline for Tax Year 2026 to October 31, 2026, granting taxpayers two more weeks in a further extension announced on Thursday. That same day the KSE-100 closed 768.66 points, or 0.46 per cent, higher at 166,186.17, although profit-taking at elevated levels pared some gains. Regional tension also rose as Houthi attacks on Saudi Arabia intensified.

Abroad, Asian shares recovered after heavy selling of technology shares, which followed questions over CoreWeave's borrowing and worries about AI financing. Japan's Nikkei gained 1.8 per cent, recouping part of Thursday's near 5 per cent slump, while South Korea's KOSPI added 2.8 per cent after a nearly 8 per cent plunge. Brent crude slipped toward $105 and gold pulled off Thursday's peak.