KARACHI: Stocks extended buoyancy and kept on moving upward steadily as benchmark KSE 100-index added another 128.69 percent or 0.40 percent to reach 32609.04 points in early trading on Friday.
The Karachi Stock exchange opened at the overnight closing of 32480.35 points on a bullish note and appeared confident, strengthening its journey towards new highs of 33,000 points. The market has been buoyant after starting the new year on a positive note. The stocks closed 5pc up and the KSE-100 index increased by 349.07 points to close at 32480.35 points level for the first time ever on Thursday.
The All-Shares Index rose by 185.59 points and closed at 23583.50 points, KSE-30 Index up by 262.94 points and concluded at 21034.49 points while KMi-30 Index grew by 752.90 points and settled at 51488.02 points.
Stocks closed all time high amid higher trades after CPI Inflation data for Dec’14 stood at 4.3pc YoY raising expectation for cut in SBP Policy rate later this month. Govt decision for cut in local petroleum prices after slump in WTI Crude to over 5 year lows, extension of gas allocation to Engro Fertilizers and expectation for strong earnings in fertilizer, banking and cement sector played a catalyst role in bullish activity.