KARACHI: The Karachi Stock Exchange gathered momentum and defied the scare of overnight losses amid brewing political storm, gaining 56 points or 0.13 percent to take the benchmark KSE 100-Index to 31,276.09 points in early trading on Wednesday.
Stocks closed lower amid institutional profit-taking ahead of “historic” protest rally called in by Pakistan Teheek-i-Insaf on Nov 30 in the federal capital.
The KSE share-100 index opened at overnight closing of 31,223 and appeared confidence, going up steadily.
Equity expert said political uncertainty, dismal data on LSM growth at 1.86pc YoY Jul-Sep ’14 and impact of circular debt in energy sector for power tariff cut by Nepra played a catalyst role in bearish activity at KSE.
The market has been on declining as investors remained skeptical ahead of PTI’s protest on Nov 30.
