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Midday: Bull-run keeps KSE shinning, consolidates gains to 404pts

Midday: Bull-run keeps KSE shinning, consolidates gains to 404pts

KARACHI: Bull-run continued to cheer the Karachi Stock Exchange (KSE) as benchmark KSE 100-Index after crossing highest-ever psychological barrier of 31,000 points kept on upward march to reach 31316.05 points with a considerable gaining of 404 points or 1.25 percent till midday trading on Monday.

Earlier, the market started the new week at the weekend closing of 30912 points and continued recouping previous week’s buoyancy, setting the pace for trading in a fashion. It was beginning of the week but the KSE-100 index appeared enthusiastic and kept the investors engaged to boost their confidence.

Experts and analysts attributed the bullish trend to various factors both on the economic and political spectrum.

On the other hand, successful visit of Prime Minister Nawaz Sharif also help the sentiments at the market reached new highs as agreements worth more than $42 billion have been signed to pave the way for Chinese investors in different sectors, especially the energy and infrastructure.

It is expected that these Pak-Sino agreements will boost the investment scenario further.

It is worthy to mention here that Customs Today yesterday predicted that KSE 100-Index would touch the benchmark 31,000 points level till closing of the week on Friday. Customs Today has been regularly predicting such trends. For instance, Customs Today predicted cut in POL prices on October 3 and it happened on Nov 1 while the whole nation was in disbelief about the prediction on October 3.