Volumes for the day clocked in at 836 million shares, which marked a four-year high, from Sept 20, 2016.
Analysts at Arif Habib Ltd calculate sectors contributing substantial points to index were cement, power, tech, chemical, textile.
The index opened on a positive note and quickly climbed to intraday high by 255 points.
Pundits expect the market to maintain its bullish trend given the massive rise in Index over the past several weeks.
Foreigners sell shares worth $1.79 million.
Investors seemed to be excited over the rebound in economy post Covid-19 and the current account surplus in July.
The smooth rollover week and the foreign investors’ net purchases of stocks worth $2.36 million also encouraged locals to buy.
Investors taking a slightly mid-term outlook looking forward to financial results mainly in the cement companies.
Observers say the correction was due after the index had rallied by a massive 46pc from its five-month low in March.
Traders say the 40,000 level had proved strong resistance around which the market had been moving for the last several sessions.
Oil and gas marketing companies top performers as resolution of GIDC issue gave hope of settling of circular debt in short term
Pundits expect the market to maintain its northwardly direction, supported by cyclical sectors including cement, steel, textile.
E&Ps led the losers, regardless of rise in international oil prices.
Independent power sector in the limelight as finance adviser hints talks with sector expected to reach conclusion soon.
Investors spooked by the brewing developments on the political side; impact diluted by Moody's reaffirmation.
Stockholders expect the revival of economic activity as revenue collection increases, car sales grow and cement despatches rise.
Market pundits expect trend to remain positive as smart lockdown is eased from about the entire economy from Aug 8-10.
Europe as a whole was hammered by its sharpest recorded contraction in the second quarter.
Analyst at JS Global says bullish week has taken "cumulative returns to a staggering 16.5pc during brief period".
Reports regarding IMF’s technical assistance to extricate Pakistan from FATF grey list helped the market in its upward journey.
Oil prices mixed as investors weigh hopes for a US stimulus package with declining demand.
The SBP gesture was considered as a sign that the policy rates had bottomed out.
Local exchange following in footsteps of global equities which are hitting new highs as world economy shows signs of recovery.
Profit-taking followed by buying on dips was the trend.
Brokers were the first to book profit with sale of shares worth $2.23 million.
Analysts believe another State Bank monetary policy meeting could be held in July with the prospect of another rate cut.
Market has carried on its journey to the north in the last 15 of 16 trading days accumulating aggregate gains of 3,618 points.
Foreign selling stood out in the heavy sum of $4.50 million.