KARCHI: Positive sentiment prevailed at the Pakistan Stock Exchange (PSX) on Thursday as the KSE-100 Index jumped up over 700 points amid hopes of International Monetary Fund (IMF) program revival.
By the end of the day, the KSE-100 Index was up 743.27 points or 1.78% to close at 42,466.59 points.
The market stated with upward momentum and maintained an upswing throughout the trading day.
All sectors that are heavily weighted by the index, such as the automobile, cement, chemical, commercial banks, and OMCs, saw widespread buying.
Experts attribute the upward trend to hopes that the IMF bailout program will resume.
Sectors lifting the benchmark KSE-100 index higher included banking (210.57 points), oil and gas exploration (152.00 points) and cement (107.78 points).
Volume on the all-share index jumped to 367.4 million from 297.8 million on Wednesday. The value of shares increased to Rs13.5 billion from Rs12.1 billion recorded in the previous session.
WorldCall Telecom was the volume leader with 35.2 million shares followed by Hascol with 25.3 million shares and Oil and Gas Development Company with 18.2 million shares.
Shares of 352 companies were traded on Thursday, of which 243 registered an increase, 86 recorded a fall and 23 remained unchanged.
