Bulls held their ground at the stock market on Thursday and helped extend gains from the preceding session on the back of a surge in global financial markets.
An uptick in global equities enticed market participants at the local bourse to renew investments and assume fresh positions, thus pushing the KSE-100 index past the 40,000-point barrier.
Trading kicked off with a spike and the market marched on an upward trajectory till mid-day, following which the index witnessed a brief slump. Trading continued in a narrow range, however, a buying spree in the final hours pushed the index higher. At close, the benchmark KSE-100 index recorded an increase of 503.66 points, or 1.26%, to settle at 40,353.62 points. Overall, trading volumes rose to 476.9 million shares compared with Wednesday’s tally of 431.9 million. The value of shares traded during the day was Rs15.8b.