STAFF REPORTER KARACHI After posting losses for four consecutive days, the stock market reversed the trend and rose 126 points on Friday, led by buying in banking and cement sectors amid thin trading. Investors pinned their hopes on Pakistan’s likely exclusion from the Financial Action Task Force’s (FATF) grey list by June 2020 as they expected diplomatic support in the FATF meeting to be held in Paris next month. On the other hand, foreigners invested massively during the day. Earlier, trading began in the first session on a positive note, however, volatility emerged due to the absence of positive triggers and the index began oscillating between negative and positive zones in the initial hours. The bourse fell in the subsequent hours and the first session ended with a loss of 90.6 points. The second session kicked off positively and saw the index climb over 200 points, however, a sharp plunge eroded most of the gains till late afternoon. A buying spree towards the end of the session helped lift the index which closed in the green. At close, the benchmark KSE 100-share Index recorded an increase of 126.08 points, or 0.3%, to settle at 42,633.02. Arif Habib Limited, in its report, stated that the market recovered some of the losses made earlier in the week and closed the day with a gain of 126.08 points. “The cement sector gained both in terms of volume and value, with Kohat Cement hitting its upper circuit .
