The Pakistan Stock Exchange (PSX) started the new year 2024 with bulls running riot, tossing the index by over 2,200 points on Monday, reported 24NewsHD TV channel.

The benchmark KSE-100 index soared by 2,210 points to end the day at 64,661.78 amid aggressive buying by investors across all the sectors.

The latest surge was on the back of buyers’ interest in index-heavy oil and gas sector with shares such as OGDC, PPL, PSO, SNGP among other scrips rallying over 5-7%.

Buying was also witnessed in other index-heavy sectors including automobile assemblers, cement, chemical, commercial banks among others.

At the close of business on last Friday, bulls had also ensured stocks closed 2023 on a high note as the KSE-100 index ended the final trading session of the year in the green, settling at 62,451.04 level, recording an increase of 398.81 points or 0.64%.

In a key development, the government decided to keep petroleum product prices unchanged for the fortnight ending January 15, 2024.

Meanwhile, the Federal Board of Revenue (FBR) provisionally collected a record Rs4,468 billion during the first six months (July-December) 2023-24 against the assigned target of Rs 4,425 billion, reflecting an increase of Rs 43 billion.

According to the revenue collection data released by the FBR on Sunday, the FBR created history by collecting Rs 1,021 billion in December 2023 and after adjusting refunds of Rs 38 billion issued during the month, reached net collection of Rs 984 billion.

Reporter Baseem Iftikhar