KSE index inches up 75.45 points

23
Staff Reporter 
Karachi

A topsy-turvy session at the Pakistan Stock Exchange (PSX) ended on a positive note on Friday as the benchmark index managed to overcome bearish sentiment in cautious trading.

The benchmark KSE-100 index opened up and continued to rise during the short trading day.

However, selling pressure emerged by midday, which wiped off most of the gains. Nevertheless, bulls managed to hold on to their positions.

The market faced selling pressure at regular intervals amid rising coronavirus cases in the country. At close, the benchmark KSE-100 index recorded an increase of 75.45 points, or 0.17%, to settle at 45,305.63 points.

Cyclical stocks including cement, steel and auto performed relatively better. Small-caps were favoured by investors in comparison with blue chips, whereby Ghani Global Holdings, which fell on Thursday, bounced back on Friday.