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Midday: KSE crosses 30,000 level

Midday: KSE crosses 30,000 level

KARACHI: Started with negative trend, the Karachi Stock Exchange (KSE) 100-index gained momentum with positive growth of 149 points, crossing psychological level of 30,000 and reached 30143 points.

In the morning the investors started trading very carefully, keeping current political standoff in mind, due to which KSE 100-index shed 21 points to stand at 29972.87 points on the second day of trading.

Change in top brass of Army and after Jamaat-e-Islami Ameer Sirajul Haq’s positive statement of peaceful solution of prevailing political situation might have helped increase confidence of traders. Sirajul Haq has said that 80 per cent of demands raised by the two protesting political parties have been accepted by the government and respectful end of protests in the federal capital is soon.

Yesterday, KSE 100-index closed shedding 21.93 points to stand at 29993.87 points on the first day of trading.