The market started out in the positive and did not once look back but started on a steep climb to intra-day high of 717 points as investors threw caution to the wind relating to the political uncertainty due to the anti- government alliance rallies and the scare of the second wave of Covid-19 which the PM warned could strike in winter.
With Pakistan expected to get relief from Financial Action Task Force in the coming days, positive trend can be foreseen for the coming week.
Foreign investors bought shares worth $0.96 million on attractive valuations. local participants, mutual funds accumulated stocks of $1.71m to make good the sell-off during recent redemptions. Brokers also took fresh positions in value scrips worth $1.79m while insurance companies decided to take profit.
Cements led the bulls which saw the entire sector turn green in the lead of the major stock Lucky Cement.
Pakistan Petroleum Ltd went up by 44 points and Oil and Gas Development Company 35 points. The Habib Bank Ltd and Pakistan State Oil also rose by 1.3pc and 2.2pc, respectively. Other gainers that helped index in its steep climb included Hub Power Company Company, up 86 points, Meezan Bank Ltd 50 points.
