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213pts, 0.67% gained: Stocks continue rally as 100-index hovers around 32,000pt

213pts, 0.67% gained: Stocks continue rally as 100-index hovers around 32,000pt

KARACHI: Buoyant Karachi Stock Exchange continued its march toward historic high of 32,000 steadily as benchmark KSE 100-index added another 213.01 points or 0.67 to scores tally, taking it to 31893.17 points till midday trading on Wednesday.

Easing political concerns, cut in POL prices and lowest CPI inflation buoyed up stocks, giving impetus to Karachi Stock Exchange benchmark 100-index rose high.

The confident KSE seems to have set eyes to reach its historic high of 32,000 points. The market opened on a positive note at the overnight closing of 31,680.72 points and kept on moving upward, boosting confidence of the investors.

Trading activities remained flourished while the volume remained 114, 326,4601.

It is to be noted that the KSE benchmark gained 381 points or 1.22 percent to end the day at 31680.72 points on Tuesday as compared to 31299.72 points of a day earlier.

KSE-Allshare index added 247.40 points or 1.09 percent to end the session at 22940.36 points, KSE-30 index grew by 288.61 points or 1.42 percent to finish the trading at 20636.17 points while KMI-30 index extended by 710.44 points or 1.42 percent to close the session at 50654.81 points.

The analysts and experts attribute the bullish trend to expectations for SBP discount rate cut, fall in rates NSS rates and easing political concerns after PTI altered dates for protests played a catalyst role in bullish activity at KSE.