The Pakistan Stock Exchange closed almost flat as it showed a minor gain of 20 points on Friday.

The benchmark KSE-100 Index gained 20.07 points to settle at 64,637.63 levels at the closing of the trading session.

The KSE-30 Index 51.33 points or 0.24% to reach 21,630.85 at the closing of the market.

During the midday trading, the 100-Index gained 400 points to cross the 65,000 mark, however, it shed its gains in the latter session.

Meanwhile, international oil prices surged on Friday as the conflict in the Red Sea region appeared to escalate, while slightly hotter US inflation data did not shift investors’ view that interest rates could soon start to fall, Reuters reported.

The MSCI All-World share index (.MIWD00000PUS) was up 0.3%, reflecting a bounce in Europe, where the STOXX 600 (.STOXX) rose nearly 1%, led partly by a rally in shares of aerospace and defence companies, where the sector index hit a record high. (.SXPARO)

US stock futures held steady, while government bond yields fell, reflecting demand among investors for safe-haven assets.

Oil rose by as much as 2.6% after the United States and Britain said they had launched strikes from the air and sea against Houthi military targets in Yemen in response to the group’s attacks on ships in the Red Sea, a dramatic regional widening of the Israel-Hamas war in Gaza.

Brent futures were last up 2.45% at $79.25 a barrel, while US West Texas Intermediate (WTI) crude rose 2.6% to $73.86.