KARACHI: The Karachi Stock Exchange benchmark 100-index gained massive 439.94 points or 1.29 percent to reach 34466.53 points and volume of 249,086,480 shares on first day of trading week, Monday.
The drastic cut of 100 basis points in the interest rate by the State Bank of Pakistan strengthened the Karachi Stock Exchange as the benchmark 100-index increased to 34443.31 points by gaining 416.72 or 1.22 percent till the mid day trading.
An expert says although fiscal deficit had been contained, the expected shortfall in FBR revenue and higher security-related expenditures were still challenging for the government to meet the deficit target. “The containment of fiscal deficit is encouraging and bodes well for credibility of policies and continuation of official and private capital inflows,” he said.
The High and Low were 34589.28 and 34026.59 respectively while the total volume traded was 249,086,480.
With High and Low of 34511.14 and 34026.59 respectively, the volume traded in the market was 151,898,810 and in terms of value was 10,526,747,870. Although the trade deficit had risen in the first half of FY15 over the same period of FY14, it came down in November and December, he added. Moreover, considerable foreign exchange inflows had contributed to an upward trajectory in foreign exchange reserves.
