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KSE-100 climbs 588 points, crosses 43,000

KSE-100 climbs 588 points, crosses 43,000

KARACHI: Stocks witnessed another bullish run on Monday, as the KSE-100 Index rose 588.13 points or 1.38% to surpass the 43,000 barrier to close positive for the 13th successive trading session.

The index shot up from the word go, with investors continuing to remain bullish in stocks across the board. KSE-100 surged 730 points at one point to hit a high of 43,256.57, before profit-taking trimmed some of the intra-day gains.

At close on Monday, the KSE-100 Index ended with an increase of 588.13 points or 1.38% to finish at 43,112.12. Elixir Securities’ analyst Ali Raza said Pakistan equities continued the winning streak after another strong run on Monday. “The market opened on a strong note and built on gains as the day progressed aided by strong institutional flows,” Raza commented. Initial gains were led by listed gas utilities, Sui Northern Gas Company (SNGP PA +5%) and Sui Southern Gas Company (SSGC PA +5%), as investors cheered news of third LNG pipeline approval by the government.