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KARACHI: The Pakistan Stock Exchange (PSX) maintained its bullish momentum during the outgoing week, with the benchmark KSE-100 index briefly crossing the 180,000 mark for the first time since February, before the onset of the Middle East conflict.
However, the index failed to sustain this level and retreated in the final session of the week on renewed geopolitical concerns in the Middle East after Israel intensified attacks in Lebanon in sheer violation of the Islamabad MoU signed between the US and Iran which agreed prompt ending of violence in the entire region.
Investor sentiment remained largely positive on expectations of progress in US-Iran diplomacy, easing concerns over regional tensions and helping lower global oil prices. However, the scrapping of a scheduled round of US-Iran talks in Switzerland amid escalating Israeli hostilities in the region triggered profit-taking on Friday, the last session of the week.
According to Topline Securities, the KSE-100 index gained 6,523 points, or 3.8pc week-on-week, to close at 178,922.75.
