Bulls dominate as KSE-100 gains over 800 points to power past 48,000

The KSE-100 Index ended its four-session losing streak with a spectacular 805-point gain on Thursday, finishing above the 48,000 level for the first time in over 2 weeks.

The index rallied from the start with volume and value traded both seeing a noticeable increase. At close, the KSE-100 Index ended with a gain of 1.7% or 805.25 points to settle at 48,053.17.

The gain erased all losses during the last four sessions that saw the KSE-100 decrease 367 points.

“Rally in tech and buying in key stocks helped the PSX recover today,” Topline Securities CEO Mohammed Sohail told Business Recorder, adding that investors are awaiting results from TRG Pakistan's meeting.

KSE-100 Index decreases for fourth consecutive session

Sectors leading the market included technology and communication (162.70 points), cement (144.20 points) and banks (106.93 points).

Volume on the all-share index increased from 412.2 million shares on Wednesday to 475.23 million on Thursday. The value of shares traded during the session amounted to Rs21.31 billion, a substantial increase after it clocked in at Rs14.97 billion on Wednesday.

TPL Corp Ltd was the volume leader with 30.16 million shares, followed by WorldCall Telecom with 28.43 million shares, and TRG Pakistan at 27.39 million shares.

Shares of 429 companies were traded on Thursday, of which 312 registered an increase, 96 recorded a fall, while 21 remained unchanged.