Islamabad
\nThe bourse found footing on Friday, rebounding after Thursday\u2019s steep sell-off, as geopolitical risk premiums eased and rollover-week flows steadied early trade ahead of results season.
\nThe Pakistan Stock Exchange\u2019s (PSX) benchmark KSE-100 index settled at 184,174.48 points, up 1836.36 points, or 1.01%, from 182,338.12.
\nThe benchmark index touched a high of 186,619.51, up 4,281.39 points, or 2.35%, before falling to a low of 182,347.47, up 9.35 points, or 0.01%.
\n\u201cStocks staged a recovery in the early session at PSX amid institutional support in oversold scrips and investor eye on possible US-Iran de-escalation on Iran deal,\u201d said Ahsan Mehanti, Managing Director and CEO, Arif Habib Commodities.
\nHe added: \u201cHigher global crude oil prices and speculations in the earnings season played a catalyst role in bullish activity at PSX.\u201d
\nTurning down the temperature, US President Donald Trump on Thursday said he hoped to avoid military action against Iran, leaving open the door to talks even as Tehran warned of retaliation and a US naval group loitered in regional waters.
\nAs the White House struck a softer tone on Iran, crude rallied. Brent rose $2.61 (3.8%) to $71.01 a barrel, on track for its biggest monthly gain in four years, while WTI gained $2.54 (4.0%) to $65.75.
\nAdding to the sentiment, State Bank of Pakistan (SBP) foreign-exchange reserves increased $13 million to $16.101 billion in the week ended January 23. Total liquid reserves rose $35 million to $21.293 billion (commercial banks $5.192 billion, up $22 million).
\n\u201cMarkets found some footing after a steep sell-off, rebounding modestly as geopolitical risk premiums eased across global asset classes,\u201d said Huzaifa Riaz, Director, Mayari Securities (Pvt) Limited.
\n\u201cSentiment was further supported by the final day of rollover week, allowing investors\u2019 focus to gradually shift back to the upcoming results season,\u201d he added.
\nOn Thursday, the KSE-100 slumped 6,042.27 points (-3.21%) to 182,338.12, after swinging between 188,923.40 and 181,961.15.<\/p>\n","protected":false},"excerpt":{"rendered":"
Islamabad The bourse found footing on Friday, rebounding after Thursday\u2019s steep sell-off, as geopolitical risk premiums eased and rollover-week flows steadied early trade ahead of results season. The Pakistan Stock Exchange\u2019s (PSX) benchmark KSE-100 index settled at 184,174.48 points, up 1836.36 points, or 1.01%, from 182,338.12. The benchmark index touched a high of 186,619.51, up …<\/p>\n","protected":false},"author":4,"featured_media":78403,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-93005","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/93005","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/comments?post=93005"}],"version-history":[{"count":1,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/93005\/revisions"}],"predecessor-version":[{"id":93018,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/93005\/revisions\/93018"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media\/78403"}],"wp:attachment":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media?parent=93005"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/categories?post=93005"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/tags?post=93005"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}