KARACHI - Stock market closed at all-time high on Thursday as it rallied in line with the global markets. The 100-share index gained 500.38 points and closed at of 42,704 points.

Cement sector continued its positive momentum on the back of promising dispatch numbers, which were released by APCMA for the month of Oct-2016. MLCF (up 5.0%) and KOHC (3.7%) were top performers of the aforementioned sector.

Investor interest was seen in the banking sector as it gained to close (up 2.0%) higher from its previous day’s close.

HBL (up 2.1%) and UBL (3.7%) were major index movers of the aforementioned sector. PIAA gained for the second consecutive day to close on its upper circuit, on the back of the news that Prime Minister Nawaz Sharif has constituted a committee to finalise the financial plan for Pakistan International Airlines (PIA) after the management’s request for finances to procure 13 new aircrafts, observed analyst Nabeel Haroon.

Traded volume increased to 560m shares, while traded volume slightly decreased to Rs20b/$191m. BOP and PIAC led the session with total traded volume of 119m shares.

Total 431 active companies participated in the session of which 305 closed in green, 119 in red while 7 went unchanged.