KSE-100 index gains nearly 500 points on higher oil prices

Staff Reporter

The Pakistan Stock Exchange (PSX) extended gains on the last day of the trading week and recorded a handsome rally, taking a cue from bullish activity in global stock markets and rising oil prices.

Benchmark KSE-100 recorded an increase of 487.85 points, or 1.10%, to settle at 44,821.53 on Friday.

Investors took a cue from the rise and made a fresh investment in oil stocks, which lent support to the benchmark KSE-100 index.

Earlier, trading kicked off on a positive note, however, the market dropped at regular intervals. But bulls took full control of the market in the second session and with that, the index began climbing at a steady pace.

During the session, shares of 356 listed companies were traded. At the end of the session, 226 stocks closed in the green, 116 in the red, and 14 remained unchanged.

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