The Pakistan Stock Exchange opened strongly on Friday, with the KSE-100 Index crossing the historic 160,000 mark for the first time during early trade.
At 10:15am, the benchmark index stood at 161,188.80 points, reflecting a sharp gain of 1,908.71 points or 1.2 percent in morning activity.
Widespread buying was seen across major sectors, including cement, banks, oil and gas exploration, power generation, and refinery companies. Heavyweight stocks like ARL, HUBCO, MARI, OGDC, PPL, POL, SNGPL, and PSO all traded positively.
The bullish momentum followed Thursday’s session when optimism over government measures to resolve circular debt pushed the index to a record closing. It settled at 159,280.09 points, marking a rise of 1,043.42 points or 0.66 percent.
In a significant development, Prime Minister Shehbaz Sharif met US President Donald Trump at the White House on Thursday, accompanied by Army Chief Field Marshal Syed Asim Munir.
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The two leaders discussed the Middle East crisis, with the prime minister appreciating efforts by the US president to end the war in Gaza. He lauded Trump’s initiative of inviting Muslim leaders to New York for talks aimed at restoring peace.
Meanwhile, global markets reflected mixed sentiments, with Asian shares declining on Friday after Washington unveiled new tariffs on multiple imports.
Trump announced 100 percent duties on imported branded drugs and additional tariffs on heavy-duty trucks, cabinets, vanities, and upholstered furniture, effective from October 1.
The announcement triggered a selloff in pharmaceutical shares across Asia. Japan’s Topix pharmaceutical index dropped one percent, while the Hong Kong-listed innovative drug index slid 2.8 percent.