The Pakistan Stock Exchange (PSX) continued its upward trend on Friday, driven by strong buying interest, particularly in index-heavy banking and oil & gas stocks. The benchmark KSE-100 index crossed the historic milestone of 83,000 during intra-day trading for the first time.

By noon, the KSE-100 was at 83,171.53, reflecting an increase of 449.77 points, or 0.54%.

There was notable buying activity in commercial banks, chemicals, real estate, and oil and gas exploration companies. Key index stocks such as MCB, MEBL, NBP, PPL, OGDC, and MARI all showed positive performance.

Air Link also experienced gains after Business Recorder reported that the company imported two electric vehicles for testing purposes.

Experts attribute the improved market sentiment to favorable macroeconomic indicators. The State Bank of Pakistan’s foreign exchange reserves exceeded $10 billion, reaching a two-and-a-half-year high following a recent loan tranche disbursement from the International Monetary Fund (IMF). The central bank’s reserves increased by $1.168 billion, rising from $9.533 billion to $10.702 billion.

On Thursday, the PSX recorded its highest closing level, buoyed by local investor interest and institutional support. The KSE-100 Index surged by 754.76 points, or 0.92%, closing at an all-time high of 82,721.77 points.

In global markets, Asian stocks retreated on Friday, while oil prices were on track for their largest weekly gain in over a year. The rising tensions in the Middle East kept markets cautious ahead of a key US jobs report later in the day.