The Pakistan Stock Exchange (PSX) witnessed a bullish session on Wednesday and the benchmark KSE-100 index crossed the 40,000 level once again after reports that UAE will confirm funding of $1 billion for Pakistan.
The stock market rose as the funding is vital to pave the way for the resumption of the International Monetary Fund (IMF) programme for Pakistan.
By the end of the session, the KSE-100 Index rose 321.34 points or 0.81% to close at 40,126.05 level.
Trading began with a jump and the KSE-100 Index rose steadily throughout the session.
Index heavy automobile, cement, fertiliser, banking and oil sectors closed with gains.
Across-the-board buying was witnessed with the index-heavy sectors including, automobile, cement, chemical, commercial banks, pharmaceuticals and refinery trading in the green.
Sectors driving the benchmark KSE-100 index forward included technology and communication (95.21 points), banking (81.08 points) and oil and gas exploration (77.52 points).
Volume on the all-share index rose to 79.8 million from 59.7 million on Tuesday while the value of shares traded surged to Rs2.6 billion from Rs1.4 billion recorded in the previous session.
K-Electric Limited was the volume leader with 8.4 million shares followed by WorldCall Telecom with 4.1 million shares and Pakistan Petroleum with 3.8 million shares.
Shares of 328 companies were traded on Wednesday, of which 172 registered an increase, 134 recorded a fall and 22 remained unchanged.
