The stock market continued its upward streak, buoyed by strong corporate earnings that fuelled investor optimism.

The benchmark KSE-100 index surged 941 points intraday before settling at 113,342 points, marking a 253-point gain (0.22 per cent) by the end of the session.

Topline in its market report said, “Investor sentiment remained positive, with better-than-expected corporate results sparking fresh buying across multiple sectors.”

The market rally was led by FFC, BAHL, MTL, SYS, and KOHC, which collectively added 433 points to the index.

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However, UBL, LUCK, HUBC, HBL, PPL, and OGDC dragged the market down, cutting 619 points from the gains.

Trading activity was robust, with 667 million shares traded, generating a turnover of Rs25.7 billion. K-Electric (KEL) led the volumes chart, with 180.8 million shares changing hands.

Corporate earnings

United Bank Limited (UBL) reported 4Q2024 EPS of Rs21.27, bringing FY2024 EPS to Rs61.39, surpassing market expectations. The bank declared a cash dividend of Rs 11 per share.

Habib Bank Limited (HBL) posted 4Q2024 EPS of Rs9.83, with FY2024 EPS reaching Rs39.85, exceeding analyst estimates. The bank announced a cash dividend of Rs4 per share.

DG Khan Cement (DGKC) reported 2QFY25 EPS of Rs 6.21, bringing 1HFY25 EPS to Rs8.04 per share. Strong demand and improved operational efficiencies contributed to the company’s better-than-expected performance.