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Closing: KSE 100-index posts marginal gains, up 47pts to touch 32,000pts mark

Closing: KSE 100-index posts marginal gains, up 47pts to touch 32,000pts mark

KARACHI: The Karachi Stock Exchange benchmark 100-index gained 47.16 points or 0.15 percent to reach 31953.90 points and volume of 146,940,180 shares on Tuesday.

Earlier, KSE lost 11.21 points or 0.04 percent to slide to 31895.33 points in early trading. The market opened at the overnight closing of 31,906.74 points and remained in negative zone, failed to boost confidence of the investors. The 100-index fell to 31895, adding to the prevailing uncertainty in the market.

The 100-index Tuesday remained in overnight bearish trend and lost 61.88 points or 0.19 per cent to reach 31844.86 points with the total volume of 70,036,620 till midday.

As a whole 18.91 per cent of companies witnessed increase in their shares while 33.88 per cent lost their share value and 3.62 percent companies remained stable.

High and Low were 31988.96 and 31765.27 respectively. Total volume traded in the market was 146,940,180 shares.

According to experts, trade remained high with limited foreign interest as global equity and commodities remained in pressure after WTI crude oil prices fell below $55/barrel. Reports for falling local cement prices and concerns for heavy circular debt in energy sector played a catalyst role in bearish activity at KSE.

Analysts are of the view that the investors remain cautious with the government and PTI talks not yielding any agreement on how to conduct a review of election results.