KARACHI: The Karachi Stock Exchange (KSE) 100-Index has gained 392 points from Wednesday morning to Thursday midday, which hints that the market will likely to touch all time high level of 31,000 points till closing of trading week.
The KSE 100-Index maintained its record breaking rally and further gained 175 points to reach historic 30768.53 points level with total volume of 111,855,850 shares.
Earlier, stocks consolidated its overnight rally and kept on upward march, adding another 162 points or 0.53 percent to take the benchmark KSE-100 to 30755 points level till 9:45am.
The mark opened at overnight closing of 595 points and appeared buoyant, maintaining upward trend. The market sustained bullish mood as was indicated by experts and analysts.
Market bandits expected that the index could now retest its all-time high of 30,640 as it had broken its critical resistance of 30,350 and has been trading above 30500 levels
The Bullish trend is being attributed to the government’s renewed efforts to revive privatization and restart of IMF discussion bode well and should reassure investor’s confidence on the back of growing signs of macro stability and reduced political uncertainty. It is expected that equity market may see a bull spree in the coming trading session.