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Stocks jump 364 points as bull run enters 11th day
KARACHI: Bulls were in complete command at the stock market on Thursday with the KSE-100 index surging by 364.44 points (0.88 per cent) to close at 41,908.71.
The index is now two sessions short of the record rally of 13 sessions (Dec 1-20, 2016).
In the last eleven sessions in a row, the KSE-100 index has made cumulative gains of a stunning 3,986 points.
After taking a breather a day earlier, bulls took center stage on Thursday. Investors bought banking stocks aggressively anticipating a rate hike on back of rising oil prices and inflation.
Similar trend was seen in Pharma sector on prospects of increase in drug prices, said analysts at Topline Securities. The market rallied despite a politically tensed environment.