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Pakistan stocks record highest single-day surge in a year

KSE-100 finished with a gain of 1,111.90 points

KARACHI: Pakistan Stock Exchange (PSX) on Thursday bounced back after a volatile week, with the benchmark KSE-100 Index gaining 2.57%, its highest this year, to power past the 44,000 level.

A negative start that put the index near the 43,000 level was soon followed by a spectacular rally across all sectors with cement, banks, and technology leading the charge. At close, the KSE-100 finished with a gain of 1,111.90 points to settle at 44,333,68.

Sectors adding gains to the KSE-100 index included banking (237.51 points), cement (213.46 points) and technology and communication (140.35 points). Shares of 557 companies were traded on Thursday, of which 464 registered an increase, 79 recorded a fall, while 14 remained unchanged.

Volume on the all-share index increased from 354.96 million on Wednesday to 388.6 million on Thursday. The value of the shares trade also jumped, amounting to Rs13.09 billion from Rs12.29 billion on Wednesday.

WorldCall Telecom was the volume leader with 66.16 million shares, followed by Unity Foods Limited with 25.03 million shares, and Telecard Limited with 18.99 million shares.