Despite prevailing uncertainty on the domestic political front regarding no-confidence motion, the market made substantial gains with the KSE-100 closing higher for the second consecutive week.

The index closed at 45,152.11 points, a week-on-week gain of 1,600.96 points or 3.68%. Weekly total market volume was also up by around 975 million shares indicating arrival of bulls in force.

The week started with a positive note and KSE-100 saw a steady rise with both value and volume of shares trading substantially higher.

Analysts have pinpointed declining international coal and oil prices as the primary factor behind this weekly gain. The cement sector is expected to benefit the most from this decline indicated by rising investor confidence. Cement sector was the top positive contributor sector-wise with 266 points, according to Arif Habib Limited Research.

During the week, Technology and Communication remained the leading sector by volume with almost 300 million shares followed by Chemicals with trading volume of 179 million shares and Cable and Electric Goods with 171 million shares.

Weekly recap: KSE-100 gains 1.2%, but volumes remain low

Among KSE-100 companies, K-electric became the leading company by volume followed by Cnergyico PK and Pak Elektron on WoW basis. All three companies also reported weekly gains of 6.53%, 1.33% and 6.86%, respectively

Azgard Nine recorded the highest weekly gain among KSE-100 companies (16.28%) with a healthy weekly volume of 17 million shares. IGI Holdings was second with weekly gain of 15.11% with a very low weekly volume of 63 thousand shares. D.G. Khan Cement was in 3rd with weekly net gain of 14.74% and significant traded volume of almost 16 million shares.

Systems Limited recorded the highest weekly loss in share price among KSE-100 companies, but it was due to Ex-dividend and Ex-bonus price adjustment during the week.

KSE-100 Volume Leaders

K-Electric Ltd. 118,347,500 6.53% 0.19

Cnergyico PK 48,842,314 1.33% 0.07

Pak Elektron 35,075,000 6.86% 1.03

TRG Pak Ltd 33,700,543 4.65% 3.54

Maple Leaf 25,156,604 4.55% 1.55

KSE-100 Top Gainers

Azgard Nine 16.28% (1.84) 17,299,000

IGI Holdings 15.11% (18.08) 63,200

D.G. Khan Cement 14.74% (9.73) 15,297,865

Punjab Oil 11.75% (18.68) 1,500

National Refinery 11.68% (22.85) 4,164,025

KSE-100 Top Losers

Systems Limited -45.89% (-323.98) 1,981,808

Colgate Palm -3.93% (-89.99) 220

Service Ind. Ltd -3.91% (-18.96) 216,500

Atlas Honda Ltd -1.75% (-7.00) 13,600

Allied Bank -1.39% (-1.18) 157,000