As investors went on a purchasing binge fueled by economic confidence amid falling inflation and additional monetary relaxation by the central bank, dealers said, stocks set a new milestone on Friday, with the benchmark index breaking the 82,000 mark in intraday trade.
The KSE-100 index closed at 81,459.28 at 10:49 a.m., but gained 770.68 points, or 0.95 percent, to reach 82,229.96.
This bull market was predicted by analysts to coincide with a precipitous decline in interest rates and inflation. They also mentioned the current kinked yield curve in government assets, where the yields on 2- and 5-year bonds are higher than those on 3-year bonds.
Important industries that saw buying activity included cement, commercial banks, fertilizer, and refineries. Index-heavy equities including MEBL, UBL, ENGRO, and FFC were among them.
