The Pakistan Stock Exchange closed its week on a positive note, with the benchmark KSE-100 shares index climbing 554 points or 1.27 per cent to reach 44,337 points.

Volumes dropped further, with only 58.17 million shares, worth nearly Rs4.85billion, changing hands by the end of the session.

Initially, the benchmark showed mixed activity while sailing around the day's opening level at 43,783 points. However, during the second half of the trading session, it adopted a vertical trajectory on the back of speculation.

The benchmark recorded the day's low at 43,696 points — down 87 points from the session's opening. It marked the day's high at 44,466 points.

Overall volumes were led by the commercial banking sector, with almost 20 million shares traded. The cement and power sectors followed the pursuit with 16.0mn and 11.6mn shares traded respectively.

"Surging global crude prices, renewed foreign inflows and Prime Minister rejection of resignation call challenging JIT report played a catalyst role in record close," said senior analyst Ahsan Mehnati.

Stocks of 334 companies were traded, of which 231 gained in value, 86 declined and 17 remained unchanged.

Volumes were led by:

Silk Bank Ltd: 8.31m shares traded [+0.68pc].

Power Cement: 8.21m shares traded [+1.50pc];

K-Electric Ltd: 8.16m shares traded [-2.95pc];

Sui South Gas: 6.18m shares traded [-2.23pc]; and,

TRG Pak Ltd: 5.63m shares traded [+1.35pc].

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Smog hazard
Updated 05 Nov, 2024

Smog hazard

The catastrophe unfolding in Lahore is a product of authorities’ repeated failure to recognise environmental impact of rapid urbanisation.
Monetary policy
05 Nov, 2024

Monetary policy

IN an aggressive move, the State Bank on Monday reduced its key policy rate by a hefty 250bps to 15pc. This is the...
Cultural power
05 Nov, 2024

Cultural power

AS vital modes of communication, art and culture have the power to overcome social and international barriers....
Disregarding CCI
Updated 04 Nov, 2024

Disregarding CCI

The failure to regularly convene CCI meetings means that the process of democratic decision-making is falling apart.
Defeating TB
04 Nov, 2024

Defeating TB

CONSIDERING the fact that Pakistan has the fifth highest burden of tuberculosis in the world as per the World Health...
Ceasefire charade
Updated 04 Nov, 2024

Ceasefire charade

The US talks of peace, while simultaneously arming and funding their Israeli allies, are doomed to fail, and are little more than a charade.