Pakistan’s stock market staged a strong comeback on Friday morning, with the benchmark KSE-100 Index climbing more than 1,000 points before trading paused for Jummah prayers, signaling renewed investor appetite after a turbulent previous session.
The KSE-100 Index reached 178,434.59 by the midday break, marking a gain of 1,060.83 points or 0.6% from Thursday’s closing level. The rally completely reversed the previous day’s steep decline, when political uncertainty had triggered heavy selling that wiped out 1,710 points.
Friday’s session opened on a weaker note but quickly gathered momentum as buyers stepped in across key sectors. The index swung between an intraday low of 176,865.05 and a high of 178,434.59, ultimately settling near the upper end of the range by noon.
Commercial banks and energy companies led the charge, with heavyweight stocks providing the bulk of the upward push. Major gainers included Mari Petroleum, which stood out among performers, along with Attock Refinery, Pakistan Refinery, Pakistan Oilfields, Pakistan State Oil, Sui Southern Gas, Habib Bank, MCB Bank, National Bank, and United Bank Limited. All these blue-chip names traded in positive territory.
Trading activity remained moderate, with approximately 90 million shares changing hands in the ready market. The total value of shares traded reached around Rs9.83 billion by the midday suspension.
The Friday recovery comes as a relief to market participants who witnessed sharp volatility on Thursday. That session had initially seen the index climb toward the psychologically significant 180,000 mark before domestic political concerns sparked profit-taking that erased early gains and sent the benchmark tumbling to 177,373.76.
Market observers noted that selective buying interest emerged in the banking and energy sectors following Thursday’s sell-off, suggesting investors viewed the dip as an opportunity to accumulate quality stocks at lower levels.
However, caution remains as the index hovers near recent highs. Traders and investors are closely monitoring whether the morning’s positive momentum can sustain through the afternoon session, particularly given lingering concerns about the domestic political landscape.
The rebound reflects the market’s resilience and the continued confidence of institutional and retail investors in Pakistan’s economic fundamentals, despite short-term political noise. Banking and energy stocks, which form a substantial portion of the index weight, have proven particularly attractive to buyers seeking value in established sectors.
As trading resumes after prayers, all eyes will be on whether bulls can maintain control or if profit-booking pressures resurface near key resistance levels.
