PSX: volatility at bourse, KSE-100 trades marginally higher

The KSE-100 was up 133.04 points, or 0.08%, at 177,506.80 around 10am on Friday, as trading opened with notable swings, Business Recorder reported. Buying was visible in commercial banks, oil and gas exploration companies, oil marketing companies and refineries. The report said ARL, PRL, MARI, POL, PSO, SSGC, HBL, MCB, NBP and UBL were among the index-heavy shares trading higher.

The early gain followed a sharp reversal on Thursday, when the benchmark lost 1,710.04 points, or 0.95%, to end at 177,373.76. Business Recorder attributed the previous session’s late selling pressure to investor caution over domestic political uncertainty. Asian equities were steadier on Friday, with MSCI’s Asia-Pacific index excluding Japan up 0.26%, while US Treasury yields and the dollar also rose as investors considered the possibility of a 50-basis-point Federal Reserve rate increase next month.