KARACHI: The Pakistan Stock Exchange (PSX) remained in positive territory during Friday morning trading, with the benchmark KSE-100 Index gaining 446.44 points, or 0.25 per cent, before the market paused for the customary Friday prayer break.

The PSX benchmark climbed to 177,769.21, compared with the previous close of 177,322.77. During the first session, the index moved between an intraday high of 177,833.12 and a low of 177,165.27.

Trading activity in the morning session remained moderate, with approximately 98.50 million shares changing hands at a traded value of Rs7.48 billion.

The exchange’s official market status showed trading as suspended around midday, reflecting the bourse’s regular Friday schedule, under which trading pauses after the morning session and resumes in the afternoon following Jummah prayers.

KSE-100 stays above previous close

Friday’s gains provided a modest recovery after a subdued session on Thursday, when late selling erased most of the day’s earlier advance.

The KSE-100 ended Thursday 47.93 points, or 0.03 per cent, lower at 177,322.78. The market had initially responded positively to softer oil prices and expectations of progress in talks between the United States and Iran.

However, profit-taking following the release of corporate financial results weighed on sentiment and pushed the benchmark marginally lower by the close.

Friday’s morning session was comparatively steady, with the index remaining above Thursday’s closing level for most of the trading period.

The benchmark briefly moved above the 177,800 level, reaching 177,833.12 before easing slightly towards the prayer break.

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Afternoon session likely to set direction

Market participants are now likely to focus on the second session to determine whether the morning momentum can be sustained.

Friday trading follows a two-session schedule, with the afternoon session expected to run from approximately 2:32pm to 4:30pm.

The relatively low morning turnover is therefore not necessarily indicative of full-day market activity, as investors typically return to the market during the second session.

The direction of the KSE-100 Index is expected to remain closely linked to developments in international oil prices, regional geopolitical tensions and corporate earnings.

Investors are also monitoring developments surrounding US-Iran relations, which have recently influenced sentiment across regional financial markets.

Investors remain cautious

The market’s recent performance suggests investors remain cautious, with daily movements being driven largely by news flow, corporate results and changes in expectations surrounding the regional economic environment.

The KSE-100’s ability to remain close to 177,800 during the first half of Friday’s session indicates that buyers continue to maintain some support at current levels.

However, sustained gains in the afternoon will be important if the market is to build on Friday’s early recovery.

For now, the benchmark remains modestly higher, with investors awaiting the reopening of trading after the Friday prayer break for clearer signals about the market’s next direction.