The KSE-100 index raised higher 747 points due to the hike in international markets on increasing bets on faster economic recovery. With the launch of Covid-19 vaccinations in the United States and some other countries felt confident in financial security in global markets even as investors became wary of key central bank policy meetings later in the week, including the US Federal Reserve’s.
By 9:56am, the benchmark index notched up 747 points and was trading at 44,535 points, up 1.75 per cent.
The cement sector started flow in the index which contributed around 133 points, followed by the technology and communication sector which contributed about 117 points.
Scrips that were among the major gainers included TRG, LUCK, HBL, HUBC and SYS.
Last week, the KSE-100 index took a hike of 2,049 points, or 4.5 per cent, reaching 43,788 points. A relief rally on Friday recovered 1,008 points, though it could not fill out the flaw of the worst weekly performance in the year both in terms of a fall in points as well as percentage over one year.
The market had last seen such dismal performance in the week ended Mar 27, 2020, with a drop in index by 2,558 points, or 8.3pc, week-on-week.