The KSE-100 Index recovered sharply, erasing almost all its intra-day losses to end flat on Thursday, as worry over the start of the fourth Covid wave in Pakistan took toll on investor sentiment.

At close, the KSE-100 finished 5.7 points lower to end at 47,312.33, but not before it had tested the 46,900 level earlier in the day.

Investors remained cautious as rising number of Covid-19 cases and concerns over the Delta variant kept them at bay. Sindh remained the centre of attention with reports that the province is considering a lockdown.

However, Asad Umar, the planning minister, said that a complete lockdown would not be the answer, and, instead, suggested citizens to follow SOPs.

KSE-100 down 369 points as intra-day gains erased

Sectors dragging the benchmark KSE 100 index lower included chemical (4.09 points), automobile parts and accessories (3.26 points), and cement (1.95 points).

Volume on the all-share index increased from 365.77 million on Wednesday to 376.44 million on Thursday. The value of shares traded during the session amounted to Rs12.267 billion, a minor increase from Rs12.266 billion on Wednesday.

WorldCall Telecom remained the volume leader with 50.15 million shares, followed by Byco Petroleum with 47.10 million shares, and Unity Foods Limited at 16.14 million shares.

Shares of 405 companies were traded on Thursday, of which 145 registered an increase, 243 recorded a fall, while 17 remained unchanged.