KARACHI: Pakistan Stock Exchange (PSX) witnessed positive session as its benchmark KSE-100 Index closed higher by 533 points, with analysts attributing bullish run to lower cut-off yields.

KSE-100 started session with buying spree that kept its momentum throughout session. Bears showed some resistance but could not maintain their grip. At close, benchmark index settled at 78,793.41, up by 532.56 points or 0.68 percent. Cement and steel sectors showed marked optimism as investors anticipate rate cut in forthcoming monetary policy, it added. Notably, FFC, SRVI, NBP, PSO and LUCK collectively contributed 355 points to index. Conversely, profit-taking in HBL, ENGRO, MTL and MEBL led to deduction of 132 points, as per report. Volume on all-share index jumped to 804.26 million from 552.56 million. Value of shares also increased to Rs 16.97 billion from Rs 14.59 billion in previous session. WorldCall Telecom was volume leader with 140.91 million shares, followed by Kohinoor Spinning with 91.35 million shares and Power Cement with 51.62 million shares. Shares of 473 companies were traded, of which 261 registered an increase, 138 recorded fall, while 74 remained unchanged. Globally, European and Asian stock markets rose on Thursday on growing optimism that US Federal Reserve will cut interest rates next month. Stock markets in Tokyo and Hong Kong closed higher while London, Paris and Frankfurt were up in early afternoon deals after Wall Street finished in green.