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Bulls continue to rule PSX as KSE-100 gains over 169 points

ISLAMABAD: The Pakistan Stock Exchange (PSX) witnessed another day of high investor participation for the second consecutive session on Wednesday, helping the benchmark index to breach the 46,000 level for the first time since April 2018.

The benchmark KSE-100 remained in the green throughout the session, recording its intraday high at 46,314.15 after gaining 392.11 points. It settled higher by 169.92 points at 46,091.96.

On the economic front, Pakistan’s large-scale manufacturing industries (LSMI) recorded an increase of 7.41pc during July-Nov FY21 compared to the same period of last year.

The LSMI output increased 14.46pc in Nov 2020 when compared with Nov 2019, and 1.35pc when compared with October 2020. A total of 208 scrips managed to accumulate gains; 164 closed lower; while the value of 173 remained unchanged.

The overall market volumes appreciated further from yesterday’s session to clock in at 845.20 million. K-Electric Ltd (KEL -5.11pc), Pakistan International Bulk Terminal Ltd (PIBTL +3.13pc) and Power Cement Ltd (POWER +7.93pc) led the volume chart, exchanging 110.62 million, 79.64 million and 45.13 million shares, respectively.

The benchmark index rallied mainly on the back of technology & communications (76.31 points) and cement (+71.63 points) sectors, with Systems Ltd (SYS +6.70pc) and TRG Pakistan Ltd (TRG +2.68pc), Pioneer Cement Ltd (PIOC +7.49pc), Maple Leaf Cement Factory Ltd (MLCF +2.10pc) and Lucky Cement Ltd (LUCK +0.48pc) contributing the most.