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KSE cheers up; gains 191pts or 0.60% to reach 32145pts

KSE cheers up; gains 191pts or 0.60% to reach 32145pts

KARACHI: Stocks cheered up and extended trade activities as KSE benchmark 100-index went up confidently 191.89 points or 0.60 percent to 32145.79 points till midday trading on Wednesday.

The Karachi Stock Exchange appeared confident and gathered momentum, setting the pace for upward march.

The market opened at the overnight closing of 31953.90 points and kept on going upwards, gaining momentum to boost the confidence of investors. It seems the stocks have left behind the bearish impact of the past two days.

Though the market remained bearish, it somehow managed to rise and gathered confidence. Overall sentiments remained mixed and the investors exercised caution. It is to be noted that stocks showed recovery led by banking, fertilizer and cement stocks on strong valuations. Investor interest remained in second and third tier stocks expected to benefit from falling energy prices, lower CPI inflation.