Friday, April 10 2026

Strong buying at PSX, KSE-100 up 2,200 points
Buying momentum was observed at the Pakistan Stock Exchange (PSX) with the benchmark KSE -100 Index gaining nearly 2,200 points during the opening minutes of trading on Friday. At 9:39am, the benchmark index was hovering at 167,688.60 points up by 2,171.09 points or 1.31%. Moreover, buying was observed in key sectors including chemical, food and personal care products and OMCs. On Thursday, PSX witnessed a lackluster yet highly volatile trading session, as the index closed slightly lower amid cautious investor sentiment driven by evolving geopolitical developments and sustained uncertainty in global markets. The benchmark KSE-100 Index declined by 293.50 points or 0.18 percent to close at 165,517.51 points. Internationally, Asian stocks ticked up early on Friday but gains ​were capped as traders questioned the durability of this week’s US-Iran ceasefire and remained wary of fragile hopes for ‌Israel-Lebanon peace talks. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.5%, led by a 1.9% jump for South Korea’s Kospi. Japan’s Nikkei 225 tacked on 1.5%, while S&P 500 e-mini futures reversed ​earlier losses to trade flat.
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IMF seeks war driving up to USD50bn bailout demand
International Monetary Fund chief Kristalina Georgieva on Thursday said the global lender expected near-term demand for IMF financial support to rise to between USD20 billion to USD50 billion as result of spillovers from the war in the Middle East. Georgieva said the now-paused war was testing the global economy, with a 13 percent cut in the daily flow of the world’s oil and a 20 percent cut in liquefied natural gas triggering a supply shock that had sent energy prices soaring, while disrupting supply chains. In prepared remarks ahead of next week’s meetings of the IMF and World Bank, Georgieva said the war had prompted the Fund to cut its global growth forecast, echoing a message she shared with Reuters on Monday. US President Donald Trump on Tuesday announced a two-week ceasefire with Iran, but Israel’s continued bombardment of Lebanon threatens to derail talks to forge a permanent peace.
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Dollar set for weekly drop ahead of US-Iran peace talks
The dollar on Friday was heading for its largest weekly drop since January as other currencies gained on optimism that a ceasefire in the Gulf will hold and oil shipping will resume. Further direction for markets is likely to ​hang on the outcome of weekend talks between the US and Iran in Islamabad. The dollar had towered in ‌March as one of the few bastions of safety as the US and Israeli war on Iran sent oil prices rocketing, hit stocks and gold and inflation worries sank bonds. But since a shaky ceasefire was agreed on Tuesday those positions are being unwound, with the U.S. dollar index losing 1.3% ​so far this week. The euro has rallied through its 200-day moving average this week to trade at $1.1690, a break ​of chart resistance that opens the way to further gains. The risk-sensitive Australian and New Zealand dollars are ⁠looking at weekly rises of nearly 3% on the dollar, with the Aussie trading just above 70 cents and the kiwi ​at $0.5847.
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Oil climbs as strikes on Saudi facilities stoke anxiety, Hormuz near standstill
Oil prices climbed on Friday, driven by fresh anxiety over supplies from Saudi Arabia and as tanker traffic through the critical Strait of Hormuz remained largely frozen. Prices were still headed for a loss as nerves eased over a fragile two-week ceasefire between the US and Iran, while Israel signalled a potential diplomatic opening, saying it was ready to begin direct talks with Lebanon as soon as possible. Brent crude futures added 58 cents, or 0.60%, to $96.50 a barrel as of 0338 GMT. West Texas Intermediate futures were up 49 cents, 0.50%, at $98.36 a barrel. For this week, both contracts have so far lost 11%, the biggest weekly decline since June 2025. Attacks on Saudi energy facilities have cut the kingdom’s oil production capacity by around 600,000 barrels per day and throughput on its East-West Pipeline by about 700,000 bpd, Saudi state news agency SPA reported on Thursday, citing an official source at the Ministry of Energy.
Related news categories: business misc oilgas-exploration oilgas-marketing

Gold set for third weekly gain as US rate outlook offsets dollar strength
Gold dipped on Friday as a firmer dollar and US-Iran ceasefire uncertainty weighed, but the metal stayed on course for a third consecutive weekly climb as investors priced in earlier and deeper US rate cuts, supporting non-yielding bullion. Spot gold was down 0.1% at $4,759.54 per ounce by 0316 GMT. The metal, however, has gained 1.8% so far this week. US gold futures for June delivery fell 0.7% to $4,782.70. The dollar index strengthened, making greenback-priced bullion more expensive for holders of other currencies. Spot gold has fallen about 10% since the US-Israel conflict with Iran erupted on February 28, with elevated energy prices fuelling inflation concerns and the prospect of higher interest rates. The fragile two-week ceasefire between the US and Iran showed further strain on Friday, as Washington accused Tehran of breaching promises on the Strait of Hormuz.
Related news categories: business economic-indicators misc