Karachi: Pakistan Stock Exchange (PSX) benchmark KSE-100 index settled above 80,000 level for first time in history. Bullish momentum persisted throughout trading session. At close, benchmark index settled at 80,233.67 level, an increase of 680.79 points or 0.86 percent. Buying was witnessed in key sectors including cement, chemical, commercial banks, oil and gas exploration companies, OMCs and refinery. Index-heavy stocks including HBL, MCB, NBP, OGDC, PPL, PSO, SHEL, SNGPL, SSGC and PRL traded in green.

Volume on all-share index increased to 536.58 million from 413.15 million in previous session. Value of shares rose to Rs 22.7 billion from Rs 16.6 billion in last session.Pak Elektron was volume leader with 34.6 million shares, followed by B.O.Punjab with 31.5 million shares and National BankXD with 21.2 million shares.Shares of 447 companies were traded on Wednesday, of which 256 registered an increase, 135 recorded fall, while 56 remained unchanged.

Globally, Asian stocks rose on Wednesday as comments from Fed Chair Jerome Powell reinforced expectations that US rate cuts were not far off, while yen remained pinned near levels last seen in 1986, keeping traders wary of Japanese intervention.MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.26 percent higher, while Japan’s Nikkei rose 0.49 percent, stalking record high touched in March. Investors were also weighing data showing tight US labour market.