KSE-100 breaks 4-day losing streak, gains 178 points

A topsy-turvy session ended with the benchmark KSE-100 Index gaining 0.41% on the final day of the week, with both volume and value of shares recording significant gains.

Oscillating in both directions, the benchmark index swung to an intra-day low of 43,737 before hitting Friday's high of 44,334.

At close, the KSE-100 Index ended with a gain of 178.41 points or 0.41% to settle at 44,114.16.

The KSE-100 still ended 5.1% lower on a weekly basis, its worst weekly performance since March 2020.

KSE-100 down 428 points, cumulative fall this week goes to 5.5%

On the economic front, SPI Index increased by 18.64% YoY,. the highest since April 2021. On a weekly basis, it was down by 0.7%. In November 2021, SPI has averaged 17.4% YoY vs. 13.6% in the previous month.

On the corporate front, Pak Agro Packaging Limited (PAPL) became the first company to be listed on PSX’s Growth Enterprise Market (GEM) Board. The GEM Board is a listing platform created to facilitate growth enterprises whether small, medium or greenfield businesses for their capital raising needs.

On Friday, sectors driving the benchmark KSE 100 index upwards included banking (45.07 points), power generation and distribution (40.91 points) and fertiliser (40.29 points).

Volume on the all-share index increased from 195.17 million on Thursday to 289.85 million on Friday. The value of shares traded also improved, amounting to Rs10.27 billion, up from Rs8.39 billion on Thursday.

WorldCall Telecom was the volume leader with 34.18 million shares, followed by TPL Properties XB with 17.21 million shares, and Byco Petroleum at 15.04 million shares.

Shares of 338 companies were traded on Friday, of which 175 registered an increase, 146 recorded a fall, and 17 remained unchanged.