A massive rally at the stock market on Thursday tossed the KSE-100 index up by 556.26 points or 1.92pc to the highest ever level at 29,543.58.
The sudden jump in the stock prices surprised many investors.
With no new significant trigger or an excitingly positive news, the outbreak in the index after several days of lacklustre trade raised suspicions of some kind of manipulation of the market by major players. However, the mystery was solved as the figures released by the National Clearing Company of Pakistan showed huge foreign inflow of $16.30m in the equity market on Thursday. The overseas investors entered into buying spree in index heavyweight stocks.
According to a break-up, foreign inflows was heaviest, amounting to $7.6 million in oil and gas sector followed by $3.1m in electricity sector; $2.7m in cement and $1.7m in banks.
