KARACHI: Stocks cheered up at the falling commodities prices, especially POL price and lowest inflation rate as benchmark KSE 100-index gained 314.12 points or 1 percent to climb up to 31,613.84 points till midday trading on Tuesday.
The Karachi Stock Exchange benchmark KSE 100-index appeared buoyant and set the pace to cross the 32,000 level. The bull-run helped the market consolidated its position, boosting confidence of the investors.
It seemed the fall crude prices have energized the market as investors remained engaged, keeping the index ticking upwards.
The market opened at the overnight closing of 31299.72 points and remained on positive noted.
Analysts and experts attributed the bullish trend to falling prices of commodities, especially the oil and lowest inflation which was at six years low. They said that rising political noise and major fall in global crude oil prices kept selling pressure in oil sector amid fears for inventory losses.