PSX climbs 851 points as banking, oil & gas shine

KSE-100 gains 0.46% to close at 185,372 on selective buying

KARACHI:

The KSE-100 index closed at over 185,370 points on Friday, gaining around 850 points as selective buying in commercial banking and oil and gas sectors kept the market in positive territory.

The benchmark extended its upward momentum for another session, supported by healthy trading activity. A total of 314 million shares were traded in the KSE-100 index, reflecting sustained investor interest amid improving sentiment.

KTrade noted that the index closed at 185,372 points, gaining 851 points (+0.46% DoD). The benchmark extended its upward momentum as selective buying in key index-heavy sectors kept the market in positive territory. Gains were primarily driven by the commercial banking and oil & gas sectors.

Read: PSX extends gains, closes above 184,500 points

Trading activity remained healthy, with 314 million shares traded. TPLRF1 led volumes with 73 million shares, followed by LOTCHEM at 21 million shares, and PTC at 16 million. On the contribution front, the commercial banking and oil & gas sectors accounted for the bulk of the benchmark's gains, with major positive contributions from UBL, OGDC, FFC, MARI, PPL, and MEBL. 

Going forward, investor sentiment is likely to remain cautiously optimistic, with earnings expectations and macroeconomic developments expected to guide market direction, while sector-specific news flow may continue to drive selective buying.