Islamabad: The Karachi Stock Exchange's KSE-100 index began the new fiscal year on a positive note, climbing 379 points to close at 78,824. This upward movement reflects the market’s optimistic outlook as it enters the accumulation phase, likely influenced by anticipated corporate results announcements.

According to JS Global, the opening day saw significant trading volumes, reaching 306 million shares. Notable performers included PTC, FABL, and PIAHCLA, with PTC shares increasing by 5.3%, FABL by 3.9%, and PIAHCLA by an impressive 9.0%. The firm predicts that the market will maintain this accumulation phase in the near term, driven by upcoming corporate results that could potentially bolster investor confidence further.

JS Global also highlighted the overall performance across various sectors, pointing out that Power Generation and Banks continued to lead the bull run, reflecting the strength in these sectors. Conversely, the Technology sector faced some challenges, contributing negatively to the index’s performance. The market's dynamism was underscored by a 129% year-over-year increase in trading volumes, marking a three-year high, which underscores the robust participation and engagement in the market.