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Opening: Confident KSE keeps eyes on 32,000 level, begins week with 173pts

KARACHI: Stocks seem to have not given in its quest to scale new heights and appeared confident in its journey to highest-ever psychological barrier of 32,000 points as KSE 100-index gained 173 points or 0.55 percent to reach 31,517.86 points in early trading on Monday.

The market started the week in a fashion and picked up the thread from weekend closing, going up in a confident way. It continued upward march and kept on adding to the score tally.

The bull-run seems to have committed to take the Karachi Stock Exchange (KSE) benchmark KSE 100-Index to highest-ever psychological barrier of 32,000 points and keeping its buoyancy in view, it seems not far off.

It is to be recalled that the market remained buoyant throughout the previous week and gained 400 points.

Experts and analysts expressed their hope that the market would remain buoyant and likely to cross the new high of 32,000 in the week.

It is to be noted that the previous peak of 30,474 points came in July, but the exchange plunged in August as opposition groups led by cricketer-turned-politician Imran Khan and firebrand cleric Tahirul Qadri began rallies and staged a sit-ins outside parliament to try to topple the government of Prime Minister Nawaz Sharif.