KSE-100 rises 3,366 points to close at 175,379.86

The KSE-100 Index gained 3,366.38 points, or 1.96%, to close at 175,379.86 on Thursday, November 5. Buying activity included commercial banks, cement, technology and communication, oil and gas exploration, and power generation and distribution.

The index reached an intraday high of 176,604.51 and a low of 174,291.25. Trading volume in KSE-100 companies was 492.78 million shares. The All-Share Index rose 1,874.96 points, or 1.82%, to settle at 105,023.93.

Commercial banks added 1,296.92 points to the benchmark, followed by cement with 625.60 points. UBL was the largest positive contributor among individual companies, adding 326.10 points; LUCK added 307.03 points and MEBL added 267.83 points.

Market buying was linked to lower international oil prices and investor assessment of US midterm election results, which were seen as potentially reducing the risk of further military escalation in the Middle East. On Wednesday, the KSE-100 had gained 3,994.62 points, or 2.38%, to close at 172,013.48.