PSX: buying at bourse, KSE-100 gains over 600 points

The KSE-100 was up 620.69 points, or 0.35%, at 177,994.45 by 11:30am on Friday, as buying returned to the Pakistan Stock Exchange, Business Recorder reported. Bank shares, oil and gas exploration companies, oil marketing companies and refineries were among the sectors attracting demand. PRL, MARI, POL, PSO, SSGC, HBL, MCB, NBP and UBL were trading higher.

The intraday advance followed a steep reversal on Thursday, when the benchmark lost 1,710.04 points, or 0.95%, to finish at 177,373.76. Selling pressure had erased early gains during that session amid investor concern about domestic political uncertainty. Overseas markets were also part of the report: Asian equities steadied, while investors considered the outlook for US interest rates and turmoil at Nvidia following chief executive Jensen Huang’s resignation.