KARACHI: The Karachi Stock Exchange (KSE) KSE 100-Index has almost grazed the highest-ever psychological barrier of 31,000 points on Friday with 0.001% with intra-day high of 30999.71 points.
KSE gained 248.31 points to close the week on 30912.09 points and volume of 158,275,810 shares on last day of trading, Friday.
At a time, it looked that the market would touch or even cross the all-time record of 31,000 points mark but after gaining 331 points the market could not maintain the momentum and closed lower at 30912.09 points.
Earlier, the upbeat Karachi Stock Exchange recouped overnight buoyancy and kept engaged investors, taking the benchmark KSE-100 index all-time-high of 30776 points with 112 points in early trading on Friday.
Though Friday is the last trading day at the market, stocks appeared determined and kept on adding to the score tally while boosting confidence of the investors. The trading began at the overnight closing of 30663 and remained cheering, showing its intentions to cross the level of 31,000 points.
High and Low were 30999.71 and 30663.78 respectively. Total volume traded in the market was 158,275,810 shares.
Experts and analysts attributed the bullish trend to various factors both on the economic and political spectrum.
It is worthy to mention here that Customs Today yesterday predicted that KSE 100-Index would touch the benchmark 31,000 points level till closing of the week on Friday. Customs Today has been regularly predicting such trends. For instance, Customs Today predicted cut in POL prices on October 3 and it happened on Nov 1 while the whole nation was in disbelief about the prediction on October 3.
