KARACHI:

The KSE-100 index of the Pakistan Stock Exchange (PSX) smashed through key resistance levels to close near historic 159,300 points, gaining almost 1,050 points in Thursday's session.

Fueled by strong performances by power, banking, and oil and gas marketing sectors, the index hit the intra-day high of 159,538, with Hubco (+6.34%), Engro Holdings (+3.59%), and HBL (+3.71%) leading the charge, contributing 1,145 points to the rally.

Profit-taking in Lucky Cement (-2.15%), OGDC (-1.76%), and UBL (-0.61%) trimmed gains by 325 points. Trading volumes reached 1.67 billion shares, with K-Electric topping the chart at 406 million shares.

On the macro front, a Rs1.225 trillion loan at Kibor minus 0.9% was signed to resolve the power-sector circular debt, potentially cutting costs by 1.

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