Stocks made a swift march upwards on the first day of the trading week on Monday. The KSE-100 index pushed its way above the 43,000-point mark with a handsome gain of nearly 800 points.
All of that added Rs26.43 billion to market capitalisation in a single day. The index opened on a positive note and remained bullish throughout the session, touching the day’s high of over 800 points.
Trading was brisk as investors entered the market in droves in search of a good fortune. The tone was set by upbeat economic data which removed some of the dark clouds hovering over the economy of Pakistan.
Bulls reigned supreme at the stock exchange and investors welcomed political clarity as the Pakistan Democratic Movement (PDM) rally in Lahore held on December 13 concluded with an unimpressive turnout of supporters. Buoyed by strong sentiment, automobile, fertiliser, refinery and exploration and production sectors remained entirely in the green. Apart from these, all other index-heavy sectors also closed in the positive zone. At close, the benchmark KSE-100 index recorded an increase of 795.82 points, or 1.87%, to settle at 43,266.22 points.