Shares at the Pakistan Stock Exchange’s benchmark index gained more than 400 points despite opening on a negative note earlier in the day.

It was “largely led by pressure in the cement sector as the index declined to make an intraday low of -1,540 points,” the Topline Securities said in a statement.

According to the PSX website, the KSE-100 index closed at 117,586.98 after gaining 467.33 points against the previous closing of 117,119.65. The index saw a positive change of 0.4%.

“Pressure in the cement sector was on noise that there is a dispute among cement manufacturers for an increase in market share and change in geographic sales to fetch higher retention price where some players are reportedly encroaching on the volumes of others, creating unease within the sector,” the firm said.

In the second half, the firm said investors came in with access to available liquidity to buy the dip as the index recovered to close at the 117,587 levels.

The top positive contribution to the index came from the fertilizer sector as EFERT, FFC, DAWH and ENGRO cumulatively contributed 911 points to the index. This interest in the fertiliser sector was on account of the expectation of an increase in dispatch number by 53% MoM for the month of December 2024.

On the other hand LUCK, SYS, PPL, FCCL and PIOC, lost value to weigh down on the index by -466 points.

On Thursday, the PSX had a volatile session, with the KSE-100 Index fluctuating before closing nearly flat at 117,119.65, up by just 111.57 points.

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