The market moved up pervasively today and PSX caught the pace, KSE-100 driven up almost 700 points and stood at 78,569. 59 showing an increase of 0. 89%. This has been made possible through active buying in categories like the car industry, construction through cement industries, and through the provision of credit facilities in the banking industry, systematically through the provision of essential drugs and fundraising industries through oil companies among others.
Major stocks as MARI, UBL, MCB, SYS, and MEBL contributed 566 points to the index. It received support from good earnings from companies such as Lucky Cement for the current year which saw its profits rise by 21 percent.
Other factors that boosted the market were better foreign CLLs reflected in low yields on Government bonds and the rise in remittances by overseas workers which was approximately $2. 7 billion in July.
Internationally Asian stock markets particularly China and Japan also had a good outing this week. The rupee managed to marginally appreciate against the US dollar. However, the General Index together with most sectors concluded higher; the number of shares traded and the total value both fell short of the prior session.
