Pakistan's benchmark KSE-100 index closed on Thursday, 29 October, at 167,193.43 points, up 1,456.68 points, or 0.88%, extending its rally to a fourth consecutive session, according to Pakistan Stock Exchange data.

The index had closed the previous session at 165,736.75 points. During Thursday's trading it moved between a low of 165,907.29 and a high of 167,483.48 points, and by midday it already stood at 166,873.49, up 1,136.74 points, or 0.69%. Total trading volume exceeded 816.8 million shares, with the value of shares traded recorded at Rs 31.54 billion.

A week of gains

Wednesday's close had itself been a gain, of 1,269.55 points, or 0.77%, to 165,736.76, so Thursday's advance continued a run rather than starting one. The KMI-30 index, which tracks Sharia-compliant companies, also closed higher, rising 2,000.56 points, or about 0.84%, to 238,958.15.

The rally followed the State Bank of Pakistan's decision to raise its policy rate by 50 basis points to 12%, a move reported as smaller than some investors had feared. That context is not presented here as the proven cause of the rise: market moves have many drivers, and the figures above are the 29 October session's closes, not 30 October closes, which had not been published when this brief was written.

Sources: Pakistan Observer; 99 News.