Cement and steel stocks led a wider rally as the KSE-100 Index gained another 341 points on Friday, with volumes also registering an increase at the Pakistan Stock Exchange (PSX).

At close on Friday, the KSE-100 Index finished 341.37 points or 0.72% higher to end at 47,599.82 points.

KSE-100 stages recovery, increases 346 points

The increase comes after the index registered a 346-point increase on Tuesday before a two-day break. On Friday, index-heavy cement and steel sectors led the rally along with refineries.

Lotte Chemical Pakistan Ltd announced its 2QCY21 financial results where it posted a profit-after-tax of Rs963 million, translating into an EPS of Rs 0.64, up by 48x YoY compared to Rs20 million during the same period last year.

Furthermore, packaging manufacturer International Packaging Films Limited announced to raise over Rs 2.15 billion in an initial public offering at the PSX.

Volume on the all-share index increased significantly from 246.07 million on Tuesday to 299.13 million on Friday. Meanwhile, the value of shares traded during the session jumped to Rs13.06 billion, from Rs11.47 billion on Tuesday.

Ghani Global Holding remained the volume leader with 21.63 million shares, followed by Byco Petroleum with 18.85 million shares, and TPL Properties at 10.35 million shares.

Shares of 464 companies were traded on Friday, of which 298 registered an increase, 139 recorded a fall, while 27 remained unchanged.