Stocks stay buoyant on strong earnings

Despite a contraction in Large-Scale Manufacturing (LSM) during the first half of the current fiscal year, equity investors remained optimistic, helping the market extend gains for the third consecutive session on Thursday. The big industry production shrank 1.87 per cent year-on-year in July-December FY25. Topline Securities Ltd said the benchmark KSE 100 index showed a positive trend, bolstered by strong corporate results. It peaked at 114,202 points and ended at 113,739 points, gaining 397 points or 0.35 per cent day-on-day. This uptick was mainly driven by Cherat Cement Company Ltd, Fauji Cement Company Ltd, Pioneer Cement Ltd, D.G. Khan Cement Company Ltd, and MCB Bank, which together accounted for 353 points of the total gain.