Failing to sustain its gains, the KSE-100 Index ended the week in the red, losing 490 points and dropping near the 47,500 level.

The index remained under pressure from the start and finished with a drop of 1.02% or 489.72 points to settle at 47,563. On a weekly basis, the benchmark index lost 0.26% of its value.

The drop comes as Minister for Planning, Development, and Special Initiatives Asad Umar, who also heads the National Command and Operation Centre (NCOC), warned of a fourth wave as Covid cases start to rise in the country.

Bulls dominate as KSE-100 gains over 800 points to power past 48,000

Sectors dragging the index included cement (103.14 points), technology and communication (79.33 points), and oil and gas exploration (48.07 points).

Volume on the all-share index increased from 475.23 million shares on Thursday to million 505.9 on Friday. The value of shares traded during the session amounted to Rs15.37 billion, a substantial decrease after it hit Rs21.31 billion on Thursday.

TPL Corp Ltd was the volume leader with 41.97 million shares, followed by Pace (Pak) Ltd with 27.11 million shares, and WorldCall Telecom at 25.78 million shares.

Shares of 406 companies were traded on Friday, of which 159 registered an increase, 237 recorded a fall, while 10 remained unchanged.