KARACHI – After losing 57.94 points or 0.17 percent on the early trading, the benchmark KSE-100 index later gained 74.71 or 0.22 percent and touched 34088.97 points till Monday’s midday.
Earlier it was considered that the loss on early trading was in the wake of continues fuel shortage in different parts of the country. On Monday, the KSE-100 index had posted gains of 227.82 points to close above the 34,000-level for the first time, at 34,014.26 points. Meanwhile, the heavyweight oil and gas sector witnessed the highest trading of 35.6 million shares and led the stock upsurge. In this sector, 12 scrips of the total 13 saw heavy buying with OGDC up by 2.3 per cent; PSO by 4.7pc; POL by 1.2pc and PPL adding 0.33pc. Mari hit the ‘upper circuit’.
Observers said that economy was not in the best of shape. The current account deficit witnessed a jump of 15pc YoY in 1HFY15 to $2.3 billion from $2.0bn; the petroleum crisis had engulfed the country; terrorism had scarcely abated, all of which did not justify a bullish fervour.
