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KARACHI: Stocks continued its northward journey on Wednesday as the KSE-100 index gained 353.29 points, or 0.76 per cent, to close at 46,934.
The index hit intraday high by 543 points which took it to 47,124 points, seen for the first time since April 2018.
The rally was powered by foreign buying of shares worth $2.62m, the bullishness in the global stock markets and rising trend in oil prices. The start of the vaccination drive and anticipation of healthy upcoming corporate results gave boost to investor sentiments.
The apparent thaw on the political front further put faith in the hearts of investors. Elsewhere, exports crossed $2bn-mark for fourth consecutive month mainly driven by double-digit growth in proceeds from textile and clothing sectors. Energy stocks supported the index as the government has signed agreements with IPPs to clear overdue payments.