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Home / Markets / KSE bounces back as index gains 79pts, 0.24% to climb up to 32810pts on way to 33,000pts

KSE bounces back as index gains 79pts, 0.24% to climb up to 32810pts on way to 33,000pts

KARACHI: Stocks bounced back from early jolts as Karachi Stock Exchange benchmark 100-index not only recovered early losses but also gained 79.25 points or 0.24 percent to climb up to 32810.86 points in midday trading on Monday.

The KSE began the new trading week on a negative note as the index fell 63 points or 0.19 percent to 32668.53 percent in early trading on Monday.

The market opened at the weekend closing of 32731.61 points and appeared lackluster, going down at the start. Market, however, appeared confidence and as expected by the analysts, showed resilience bouncing back to boosting confidence of the investors.

These were bull-run in the Karachi Stock Exchange during the last week and the index reasserted it position, rekindling the hope for another historic high of 33,000.

There prevails buoyancy in the market as benchmark KSE 100-index kept on moving upward steadily towards making a new history of crossing 33,000 level.

Taking into account various factors and development under the prevailing scenario, experts expect the benchmark 100-index will make another record by cross the 33,000 points.