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Midday: KSE gains 128 points as upward rally goes on

Midday: KSE gains 128 points as upward rally goes on

KARACHI: Bullish trend continued at the Karachi Stocks Exchange and the 100-index added another 128.09 points to reach 29723.64 until midday on Thursday.

Political standoff still prevails in Islamabad, but the government and the opposition parties in the assembly are making frantic efforts to break the deadlock after negotiating with the protesting Pakistan Tehreek-e-Insaf (PTI) of Imran Khan and Pakistan Awami Tehreek (PAT) of Dr Tahirul Qadri which gives confidence to shareholders at the KSE.

The MQM’s mounting pressure on the government to resolve the issue within one week also put a positive impact on the market.

The 100-index has been subjected to tremendous pressure as the PTI and the PAT are demanding the prime minister’s resignation and staging massive protests in Islamabad.