KARACHI: The Karachi Stock Exchange benchmark 100-index gained 269.95 points or 0.81 percent to reach 33729.96 points and volume of 143,908,650 shares on Thursday.
Earlier, trading session started on a positive note as the index added more than 200 points in first half hour. But later, investors’ preferred to liquidate their portfolios and book profit at high levels and repurchase latter at dips forcing stock to go down which later managed to gain 269.95 points till end of trading.
On the other hand, the Securities and Exchange Commission of Pakistan (SECP) has decided to take stern action against the directors of ACE Securities (Pvt) Limited for defrauding its clients, initiating an inquiry in the case.
It is important to note that most Asian stock markets sank Thursday after US growth data fell well short of forecasts, sending the dollar to a near two-month low against the euro as the chances of an interest rate hike in early summer faded.
The single currency was also supported by hopes Greece will reach a bailout reform deal with its creditors.
On the other hand, Tokyo tumbled 1.91 percent as the yen rose against the greenback, while Hong Kong lost 0.39 percent, Sydney fell 0.71 percent and Seoul was 0.52 percent lower. Shanghai was flat.
A good news from Pakistan is, as the Overseas Investors Chamber of Commerce and Industry’s countrywide Business Confidence Index (BCI) jumped by 17 percentage points (pps) over the previous index of one per cent recorded in October last year
The High and Low of today KSE trading were 33760.41 and 33456.03 respectively with the total volume traded in the market of 143,908,650.
