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KARACHI: The Pakistan Stock Exchange (PSX) extended its winning streak for a fourth consecutive session on Friday, with the benchmark KSE-100 index closing above the 185,000-point mark as improving geopolitical situation and macroeconomic sentiment continued to support equities.
The benchmark index gained 0.5 per cent, or 930 points, to settle at 185,464, moving closer to its record high of more than 189,000 reached on Jan 23.
According to Topline Securities, investor confidence remained buoyant amid lower international oil prices, which are expected to ease pressure on Pakistan’s external account.
The index was lifted mainly by United Bank Ltd, Oil and Gas Development Company, Fauji Fertiliser Company, Mari Energies and Pakistan Petroleum Ltd, which together contributed around 611 points. The exploration and production sector dominated trading by value. OGDC led with transactions worth Rs3.08 billion, followed by Mari Energies at Rs2.43bn and Pakistan Petroleum at Rs1.81bn.
