Karachi: The benchmark KSE100 index of the Pakistan Stock Exchange soared to a new high, closing at 97,328.40 points, marking a 1.86% increase from the previous day. The KSE30 index also witnessed a significant rise, closing at 30,192.45 points, which translates to a 2.08% gain. This positive momentum was driven by notable performances from leading companies, including GlaxoSmithKline, Fauji Fertilizer Company, and Fauji Fertilizer Bin Qasim, each recording a 10% increase in their stock prices.

According to JS Global, the total market capitalization of the Pakistan Stock Exchange reached Rs 12,525.44 billion, reflecting a 1.60% day-on-day increase. The year-to-date growth for the KSE100 index stood at 55.85%, while the KSE30 index recorded a 45.32% increase. In terms of market volume, a total of 969.91 million shares were traded, amounting to a value of Rs 35.17 billion or $126.75 million.

The market's upward trend was supported by gains in the oil and gas sector, with stocks such as Oil and Gas Development Company and Pakistan Petroleum Limited showing strong performances. However, some stocks, including Mehran Sugar Mills and Kohinoor Spinning Mills, experienced declines, with losses of 6.85% and 6.46% respectively.

Regional markets presented a mixed picture, with China's SSE Composite Index rising by 0.1%, while India's BSE Sensex and Indonesia's Jakarta Composite Index both fell by 0.5%. Overall, the robust performance of the KSE100 index reflects investor confidence in the market, driven by strong corporate earnings and favorable economic indicators.