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KARACHI: The Pakistan Stock Exchange (PSX) closed the outgoing week on a positive note as improving diplomatic signals surrounding the Middle East conflict lifted investor sentiment and encouraged value-hunting across key sectors, pushing the benchmark KSE-100 index above the 167,000-point level.
According to Arif Habib Ltd (AHL), the KSE-100 index gained 2,248 points, or 1.36 per cent week-on-week, to settle at 167,844.24 points. The rally was largely driven by expectations of progress in US-Iran talks, with Pakistan reportedly playing a role in facilitating backchannel diplomacy. The development eased concerns over possible oil supply disruptions and supported equity market performance.
Auto financing also showed a strong recovery, rising 36.6pc year-on-year to Rs360bn in April, while posting a 4.1pc month-on-month increase amid improving consumer sentiment.
In the debt market, the government exceeded its Pakistan Investment Bonds (PIB) auction target by raising Rs652bn against Rs350bn, with the bulk of participation concentrated in the 15-year tenor.
