The KSE-100 Index was up 1.69 percent Friday as the Pakistan Stock Exchange managed to cross the psychological barrier of 40,000 points, thus ending the calendar year on a positive note.
With the latest gain of 673.09 points, the benchmark index has now added a total of 1,140.28 points during the last sessions of the year after it had surged by 467.19 points on the previous day.
By the time trading closed for the calendar year, the KSE-100 Index was recorded at 40,420.45, which means a loss of 9.36 percent when compared with the value by 2021-end.
A total of 94 shares on the KSE-100 Index were traded Friday in the stock market out of which 76 made gains while 18 registered a decline.
The total volume stood at 203.92 million shares, an 18.33 percent increase from 166.55 million shares traded on the previous day.
In terms of sectors, most of the positive news came from commercial banks, oil and gas exploration as well as marketing companies, miscellaneous and fertilizer, positively contributing 425.43 points.
When it comes to the volume leaders, K-Electric led the pack with 69.81 million shares followed by Pakistan Petroleum, Pak Elektron, Oil and Gas Development Company, and Pakistan International Bulk Terminal.
On the other hand, the five companies with the largest gains were: K-Electric 8.43 percent, Pakistan Services Limited 7.50 percent, Pakistan Petroleum 7.49 percent, Rafhan Maize Products 7.13 percent, Pakistan Tobacco 7.10 percent,
When it comes to the shares that suffered the biggest losses, Thal Limited experienced a decline of 6.54 percent. The reduction in the case of Bannu Woolen Mills 3.84 percent, Habib Growth Fund 3.81 percent, Pakistan Oilfields 2.65 percent and GlaxoSmithKline Pakistan 1.71 percent.
During the current calendar year, the index has plunged by 9.36 percent – a trend witnessed around the globe. The biggest example is the New York – the world’s economic capital – where the Nasdaq has witnessed a loss of 34.7 percent followed by S&P 500 20.6 percent and the Dow 9.5 percent by Wednesday.