KARACHI: Bullish stocks adamant to rise high and high and appeared to have set eye on crossing another high of 32,000 points as benchmark KSE-100 index gained another massive 325.57 points or 1.04% to settle at 31629.20 points on Wednesday due to foreign buying and heavy inflows.
The Karachi Stock Exchange continued upward march steadily and all day seems to have gained the confidence to keep the bull-run prevail, luring investors to remain engage in trading. The trade volume remained 201,461,600 which is quit promising and set to rise further.
The market opened on the overnight positive note and stayed buoyant, keeping confidence of the traders high. The Karachi Stock Exchange appears to have thought something different after crossing its all-time high and the experts and market analysts expect the trend to stay in. Earlier, the trading started at the overnight closing of 31303 points and kept on sailing high. High and Low were 31746.54 and 31303.63 respectively. Total volume traded in the market was 201,461,600 shares.
Experts and analysts attributed the bullish trend to various factors both on the economic and political spectrum. Prime Minister Nawaz Sharif’s recently-concluded visit to China, where he signed agreement and MoUs for more than 42 billion dollars investment in various sectors have boosted the market. On the other hand, the IMF willingness to disburse another tranche in December has also boost the confidence.
