Index-heavy banking and cement sectors saw some selling pressure on Friday as the benchmark KSE-100 Index lost over 350 points during the final trading session of the week. At close, the benchmark KSE-100 Index settled at 81,292.13, a decrease of 365.83 points or 0.45%. A total of 339,323,128 shares were traded during the day as compared to 423,942,319 shares the previous trading day, whereas the price of shares stood at Rs 12.893 billion against Rs. 17.671 billion on the last trading day. As many as 439 companies transacted their shares in the stock market, 129 of them recorded gains and 234 sustained losses, whereas the share price of 76 companies remained unchanged. The three top trading companies were K-Electric Limited with 50,666,137 shares at Rs. 3.67 per share, WorldCall Telecom with 32,405,823 shares at Rs. 1.20 per share and Hub Power Company XD with 16,264,755 shares at Rs. 123.77 per share. Hallmark Company Limited witnessed a maximum increase of Rs. 102.70 per share price, closing at Rs. 1,129.99, whereas the runner-up was RafhanMaize Products Company Limited with Rs. 92.46 rise in its per share price to Rs. 7,346.75. On Thursday, an initial buying spree also made way for selling pressure as investors took stock of Pakistan’s economic condition despite the International Monetary Fund (IMF) approving Pakistan’s 37-month Extended Fund Facility (EFF) of about $7 billion. Investors are likely to consolidate gains before assuming fresh positions as the market incorporates latest inflation readings and projections of a rate cut in upcoming monetary policy announcements. Globally, Europe’s STOXX 600 rose 0.2% to a record high of 526.72 points on Friday, eclipsing late August’s all-time peak. The index has risen 2.4% this week, its biggest weekly jump in six weeks, as global stocks have rallied on the prospect of earlier rate cuts from the Federal Reserve and European Central Bank, as well as China’s plans for large-scale stimulus to boost growth. Last week, the Pakistan Stock Exchange (PSX) was named the world’s best-performing stock market in 2024 owing to improved macroeconomic conditions. The achievement was driven by a surge in foreign investment and favourable economic conditions that have boosted investor confidence. The PSX’s KSE-100 Index reached a record high, closing at 81,459 points after a 1.1% increase, and hitting 81,865 points during intraday trading.