At the start of the final week of the year, the stock market is witnessing a strong rally, with the KSE-100 Index crossing the 173,000 mark and reaching a record high of 173,800 points at the beginning of trading. The benchmark KSE-100 Index increased by 1,408.26 points, or 0.82%, to close at 173,808.99 points.
There is strong buying interest in key sectors, including automobile assemblers, cement, commercial banks, fertilizer, oil and gas exploration and production companies, oil marketing companies (OMCs), power generation, and refineries. Stocks such as ARL, Hubco, Mari, OGDC, PPL, POL, HBL, Meezan Bank, and MCB also traded in positive territory.
It is worth noting that last week, Pakistan’s equity market closed at historic levels, with the benchmark KSE-100 Index maintaining its record-breaking momentum to close at 172,400.73 points, reflecting a weekly gain of 0.6%.
Meanwhile, on the global front, Asian stock markets reached a six-week high on Monday, which also led to a strong surge in the prices of precious metals.
