Listless trading at the Pakistan Stock exchange caused the exchange to remain sideways for most of trading. The KSE100 index gained 81 points to settle at 48,239.

The last trading session of the week saw both buyers and sellers active however neither side got the run over the other. The exchange closed above 200 points in the positive for the Friday mid-day break. The second half caused some of the gains to be erased with the exchange closing just slightly positive by the end of trading.

Investors continue to wait and watch for positive news. Volumes saw a marked decline in the last trading session of the week indicating that investors are waiting for clarity on the economic front. The World Bank projects Pakistan’s GDP growth to be 2%, which is just over of the government projected rate of 3.8%

U.S. stocks are also seen wavering after the FED indicated an earlier then expected tapering of the economic stimulus. Oil prices have receded from multi-year highs as Covid-19 cases have shown another rebound in the U.K. causing demand concerns. The U.S. dollar has also strengthened after the FED announcement of a possible interest rate hike as soon as 2023

At the closing bell 210 companies had advanced with 151 closing in the red. 22 scrips remained unchanged.

Market participation for the KSE100 Index increased to 304m from 290m (+5% on d/d basis). Major contribution to total market volume came from HUMNL, WTL and BYCO combined for 235m shares out of the total market volume of 751m shares.