KARACHI: The Karachi Stock Exchange (KSE) 100-index opened on positive sentiments on the first day of trading and gained 540.85 points in the week-long trading, as it opened at 32783.97 points on Monday and closed at 33324.82points on Friday.
The index gained 26.18 points or 0.08 percent to reach 32757.79 points and the volume of shares remained 248,960,940 on the first day of trading on Monday.
The KSE began the new trading week on a negative note as the index fell by 63 points or 0.19 percent to 32668.53 percent in the early trading. However, the market showed resilience and bounced back by boosting the confidence of the investors.
High and Low were 32866.42 and 32664.15 respectively. Total volume traded in the market was 248,960,940 shares.Taking into account the prevailing scenario, experts believe the benchmark would cross 33,000 points. However, the stocks lost 89.06 points or 0.27 percent to reach 32668.73 points and volume of 173,641,810 shares on Tuesday.
The Karachi stock market gained 167.21 points or 0.51 percent to reach 32835.94points and volume of 175,312,820 shares on Wednesday.The market opened at the overnight closing of 32668.73 points and remained positive, going up to boost the confidence of the investors.
Karachi Stock Exchange kept on cheering as the benchmark KSE 100-index climbed up to 32,775.97 points with tangible gains of 107.24 points or 0.33 percent in its march towards historic high of 33,000 points during midday trading.
The buoyant Karachi Stock Exchange remained steady above 33,000 points mark after the benchmark KSE 100-Index scaled all-time high of 33,000, gaining 174.38 points or 0.53 percent to reach 33010.58 points level in midday trading on Thursday.
According to analysts, reports for rising 3G/4G broadband revenues in telecom sector, improving cement and urea off-take data and speculations ahead of the SBP policy announcement on January 15 played a catalyst role in positive activity at the KSE despite pressure due to falling oil prices to new lows below $47/barrel.
The KSE 100-index gained 207.35 points or 0.63 percent to reach 33324.82 points and the volume of 230,176,020 shares on the last day of trading on Friday.
Fuelled by bull-run, stocks kept flying high and high to new heights after scaling record high of 33,000 points as the KSE 100-index consolidated gains to 300.09 points or 0.91 percent to climb up to 33,417.56 points level till midday trading.
Though it was Friday, the last working day of the trading week, yet the sentiment were high and the market took full advantage of the traders’ confidence. The high and low were 33473.55 and 33117.47 respectively. Total volume traded in the market was 230,176,020 shares.
The market appeared buoyant and kept on going up, setting eyes on new goals and boosted confidence of the traders. The index gained 183.06 points or 0.55 percent in early trading amid hectic trade activities in early trading.
According to analyst, trade remained high on expectations ofthe cut in SBP policy rates expected on January 15 after the sharp fall in T-bill yields up to 34bps in the Wednesday auction.They claimed that the recovery in global oil prices forced local bourse to cross 33,000 points level for the first time-ever and would remained going up if the current bullish trend continued.
