KARACHI (Dunya News) – Pakistan Stock Exchange (PSX) witnessed strong bullish momentum on the last trading day of the week amid hopes for a deal between the US and Iran.
The KSE-100 index gained more than 1900 points to reclaim the 171,000 level during intraday trading as investor confidence improved.
During the session, the index reached a high of 171,692.23 points, reflecting sustained buying activity across key sectors.
Meanwhile, Asian stocks extended a global rally on Friday on hopes a Middle East peace deal may finally materialise, while the dollar and bond yields dropped and oil prices marked two-month lows, tempering inflation fears.
European bourses are set to open sharply higher, with pan-region futures up 1.8%. Wall Street futures rose about 0.2%, building on the strong rally from overnight.
Oil prices slumped to two-month lows on expectations of an impending agreement. Brent crude futures dropped 1.8% at $88.76 per barrel, having fallen nearly 3% overnight.
MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) jumped 3.7%, led by a 7.8% surge in South Korea's KOSPI (.KS11). Japan's Nikkei (.N225) rose 3.6%.
China's blue-chip CSI300 (.CSI300) rose 1.5%, while Hong Kong's Hang Seng (.HSI) gained 2%.