KARACHI – The Karachi Stock Exchange witnessed bullish trend in the early trading on Wednesday as the KSE 100-Index soared to 33912.83 with a positive change of 111.72 or 0.33 percent following the SBP report that there was US$ 765 million increase in home remittances during the First Quarter of FY15.
‘The State of Pakistan’s Economy’ report says “Overall trade deficit increased by US$ 1.6 billion in Q1-FY15, compared to the same period last year’. This increase was partly compensated by US$ 765 million increase in home remittances during the quarter.”
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Earlier, uncertainty prevailed in the market as the KSE-100 index closed 4.67 points in green at 33,801 level. The oil sector rallied nominally as the international crude oil prices reached over $62 a barrel, with OGDC gains 0.52pc) and POL up by 0.97pc closing in the green.
