KARACHI – The Karachi Stock Exchange witnessed a bullish momentum in early trading on Thursday as the benchmark KSE-100 index edged up 53.61 points or 0.16 percent to reach a historic high of 34383.11 points.
The High and Low were 34383.11, 34329.50 respectively while the total volume traded was 15,517,200.
The upward trend continued perhaps due to investors’ enthusiasm in expectation of cut in benchmark policy rate and better December quarter earnings. As per an experts, expected resolution to recent fuel shortage issues likely to benefit second tier OMCs and oil refineries because of local demand, speculations ahead of new auto policy 2014-9, reports for rising urea dispatches by FFC and its higher expected dividend income from subsidiaries played a catalyst role in positive activity at KSE.
