The Pakistan Stock Exchange's (PSX) benchmark KSE-100 Index gained 0.58% during the final session of the week, inching up after falling near the 45,000-point level a day ago.
At close on Friday, the index finished with a gain of 263.35 points or 0.58% to end at 45,345.65. On a weekly basis, the index finished with a gain of 1.68%.
"The Index closed in the green zone as investors became optimistic about IMF’s Executive Board meeting on January 12," stated Arif Habib Limited (AHL) in a post-close comment.
"Profit taking was witnessed in the first trading hour as coronavirus positivity ratio exceeded 2% in a single day for the first time since October 14 last year. Fertiliser sector remained in the limelight due to expectation of price hike of urea in the market. Cement sector remained under pressure due to the uptick in international coal prices. Activity continued to remain side-ways as market witnessed hefty volumes in the 3rd tier stocks."
On the economic front, the Sensitive Price Index (SPI) for the week ended recorded an increase of 20.08% YoY and 0.08% WoW.
Meanwhile, sectors helping the KSE-100 finish positive included banking (103.52 points), fertiliser (92.95 points) and power generation and distribution (43.84 points).
Volume decreased, clocking in at 242.26 million on the all-share index, down from 345.3 million on Thursday. The value of shares traded decreased to Rs7.93 billion, down from Rs13.24 billion.
Telecard Limited was the volume leader with 26.15 million shares, followed by WorldCall Telecom with 21.66 million shares, and TRG Pakistan Limited with 18.99 million shares.
Shares of 354 companies were traded on Friday, of which 208 registered an increase, 124 recorded a fall, and 22 remained unchanged.
The story was originally published in Business Recorder on January 7, 2022.