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Midday: 133pts gain keeps KSE above 30,000 level

Midday: 133pts gain keeps KSE above 30,000 level

KARACHI: The Karachi Stock Exchange (KSE) 100-index Thursday maintained positive note of early trading amid reports that the government is going to slash petroleum prices by Rs14 per litre.

Benchmark KSE 100-index gained 133.43 points to reach 30246.67 points with the total volume of 42,072,860 shares till midday. Earlier, the country’s biggest stock market started with positive note, recouping two days losses and gained 74.38 points to reach 30187.62 points with the total volume of 2,568,650 shares.

On Wednesday, the benchmark KSE 100-index lost 112.38 points to reach 30113.24 points and volume of 169,324,030 shares.

In addition to the good news of slashing petrol, oil and lubricate (POL) prices, Federal Minister for Finance Ishaq Dar has also said that the government was committed to bring the fiscal deficit from 8.8 per cent to 4 per cent in the next three to four years.