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Opening: After scaling 32,000pts, KSE continues to rally with 200 more points

Opening: After scaling 32,000pts, KSE continues to rally with 200 more points

KARACHI: After scaling new heights of 32,000-point for the first time in its history, buoyant Karachi Stock Exchange benchmark 100-index kept on climbing up to reach 32205.48 points with a considerable gains of 200 points in early trading on Wednesday.

The stocks opened at overnight closing of 32,006.40 points and continued upward march, showing signs of confidence.

The market seems to have set eyes on more ambitious high after achieving the historic milestone.

The rally came as the central bank cut policy rate by 50 basis points, with investors expecting interest rates to fall further.

Analysts say foreign fund managers showed exceptional interest in the market and it is expected that the bullish trend may continue at the bourse in the coming days.

The appreciation in the value of rupee against dollar also boosted confidence of the investors.