The PSX reached 11-month highs posting great gains during the first session of the week. The KSE100 was 795 points in the positive to reach 43,266.

The index remained in the green for the entire session as investors seemed to shed worries of the coronavirus wave in the country. During midday the index crossed the psychological barrier of 43,000 and further extended gains before the closing bell. Gains backed by a robust increase in volume is an indicator of healthy advancement.

The PSX performed well on the first trading session of the week in view of positive macro-economic indicators. Foreign remittances and reserves continue to rise posting a substantial increase over the same period last year. Lower than expected turn out at the PDM show of power in Lahore helped the business community shed political uncertainty.

The automobile also seems to have shed the virus impact with sales picking up 40% in November compared to the same month last year. Lower interest rates and improving economic situation in the country can be attributed to this turn around.

Stock exchanges around the world were buoyant due to the roll out of the Coronavirus vaccine in a number of countries. Global oil prices were also seen edging up in hopes of reduced restrictions in the coming months.

At the closing bell 281 companies were in the green with only 88 declining. 18 companies remained unchanged.

Market participation for the KSE100 Index increased to 338M from 303M in the previous session (+12% on d/d basis). Major contribution to total market volume came from PRL, HASCOL and ANL combined for 135M shares out of the total market volume of 629M shares.