Stocks closed higher on Friday with the KSE-100 index securing gains of 412.20 points or 1.45 per cent. However activity remained thin as retail investors remained cautious over prevailing political situation.
Foreign investors bought $1.19 million worth stocks on yesterday while the mutual funds, for the first time after several days, halted sell-off and bought back equity worth $1.79m.
“After the highest single day decline of 1,310 points or 4.5pc on Monday, the subsequent strength over the week indicated that investors’ concerns were alleviated to an extent, with murmurs of a backroom deal being struck between political players”, analysts said.
KASB Securities said that politics emerged as a major market mover during the week.