Late session profit-taking erased some intra-day gains, but the KSE-100 Index still ended positive on Friday.
Both volume and value of shares traded declined from the last session, as the benchmark KSE-100 Index closed with a slight gain of 0.1%.
On Friday, the benchmark index largely remained positive during the session, as the index reached an intraday high of 46,132.29 points, up 269 points, but profit-taking was observed in the second half of the trading session.
At close, the KSE-100 settled flat with a slight gain of 46.72 points or 0.10% to finish at 45,909.65.
The benchmark index had been on an upward trajectory for the last few sessions, having gained nearly 1.85% on a weekly basis.
“The positivity in the market can be attributed to International Monetary Fund (IMF) board approving the sixth tranche of Extended Fund Facility (EFF) program, while Pakistan trade deficit for the month of January also declined by 30% on a monthly basis to $3.36 billion, mainly on account of decline in imports, and Pakistan received $1 billion dollars from recently issued International Sukuk,” highlighted Topline Securities in its post-market comment.
KSE-100 retreats as profit-taking kicks in
On the economic front, the SPI for the week ended on February 3 recorded an increase of 1.35%. On a YoY basis, an increase of 19.53% was recorded.
On the corporate front, Systems Limited informed the bourse that its wholly-owned subsidiary Systems Ventures (Private) Limited will make a strategic investment of Rs150 million in Jomo Technologies (Private) Ltd.
Attock Petroleum Limited (APL) announced its financial result for 1HFY22, whereby the company posted a profit after tax (PAT) of Rs6,609 million against Rs2,147 million in 1HFY21, up 300% YoY.
Volumes on the all-share index decreased considerably to 192.48 million from 328 million on Thursday. The value of shares traded also declined to Rs8.89 billion, down from Rs10.51 billion a day ago.
WorldCall Telecom was the volume leader with 12.79 million shares, followed by Telecard Limited with 9.69 million shares, and Ghani Global Holdings with 8.03 million shares. Shares of 360 companies were traded on Friday, of which 158 registered an increase, 178 recorded a fall, and 24 remained unchanged.
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