Karachi, The KSE-100 index soared to a new record, closing at 70,315 points, driven by gains in selective sectors like Cement, Banking, and Oil. The index marked an increase of 695 points day over day, with notable performance in specific stocks.

According to JS Global, the KSE-100 index's rise to over 70,000 points reflects positive momentum in the market, particularly in the Cement, Banking, and Oil sectors. Companies like FCCL, MLCF, MEBL, APL, and PSO contributed to the gains, with AVN reaching its upper circuit for the second day. However, Auto and Refinery sectors experienced some profit-taking. Market volume increased to 389 million shares, indicating strong trading activity.

The report highlights the potential for the index to reach levels between 72,000 and 73,000, albeit with expected high market volatility. Year-to-date, the Commercial Banks, Fertilizer, and Oil and Gas Exploration sectors have been significant contributors to the market rally. Specific companies like Meezan Bank Ltd, Engro Fertilizers Ltd, Engro Corporation Ltd, MCB Bank Ltd, and others have also played pivotal roles in driving the index's growth.

This performance is part of a broader economic context, where the Pakistani stock market is witnessing shifts influenced by various domestic and international factors.