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KARACHI: The Pakistan Stock Exchange (PSX) maintained a bullish drive in the last session of the two-day week, due to the long Eidul Azha break, pushing the benchmark KSE-100 index above the 174,000-point level intraday on Friday.
Ali Najib, Deputy Head of Trading at Arif Habib Ltd (AHL), said the PSX witnessed strong buying interest, with the benchmark KSE-100 index rising 2,238 points, or 1.30 per cent, to close at 173,963 after hitting a high of 174,106.35, a gain of 2,381 points, early in the session.
The market opened on a strong footing as investor sentiment improved amid encouraging progress in ongoing US-Iran negotiations and falling international oil prices. Broad-based buying followed positive developments over the Eid holidays, with expectations of a potential diplomatic breakthrough continuing to fuel optimism across the market.
On the corporate front, Fauji Fertiliser rose by Rs21.75 (4pc) after signing a $1.1bn agreement with China’s Hualu to establish a coal-based fertiliser project under CPEC 2.0.
