KARACHI: The Karachi Stock Exchange benchmark KSE 100-index Wednesday up by 1.99 per cent and gained 602 points to reach 30836, recouping the early losses as the International Monetary Fund (IMF) has disbursed sixth tranche of $500 million to Pakistan.
Earlier, KSE witnessed a ‘bearish morning’ as benchmark KSE 100-index shed 123.71 points or 0.41 per cent to 30110.16 points.
The market touched the highest level of 30879.06 and lowest level of 30024.15 points with the total volume of 118,926,670 shares.
Investor outlook at the country’s capital markets appeared optimistic on reports of release of the IMF instalment as the benchmark Karachi Stock exchange 100 index also witnessed an upward trend.
The three top traded companies were Pak Elektron with a volume of 15,831,000 and price per share of 46.66 (2.22), BO Punjab with a volume 12,369,500 of price per share of 8.40 (0.35) and K-Electric Ltd with a volume 9,544,500of price per share of 7.20 (0.09).
On Tuesday, the KSE recouped after 9 per cent fall in the last 5 sessions and up 4.5% or 1,307 points to settle at 30,234 points with volumes of over 260m shares worth of Rs11.5b/$115m.
After the end of the foreign selling spree on Monday, local investors gained confidence as the KSE 100-index posted the highest gain ever in terms of number of points. Previously, the highest gain posted by KSE was 1,064 points.
