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Opening: KSE bounces back, crosses 30,000 level

Opening: KSE bounces back, crosses 30,000 level

KARACHI: The Karachi Stock Exchange (KSE) 100-index took a good start and once again crossed the psychological barrier of 30,000, gaining 155.89 points to reach 30138.34 with volume of 831,561,540 shares till 9:45am on Friday, the last day of trading.

Yesterday, benchmark KSE-100 index lost 138.54 points on closing to reach 29982.45 points and volume of 80,322,100 shares. Earlier, the country’s biggest stock market also started with positive note and gained 66.73 points or 0.22 per cent to reach 30187.72, but in midday trading, market shed 50.02 points to reach 30070.97 with the volume of 3,462,250,361 shares.

Economists say that though the ruling party, PML-N-backed candidate Javed Hashmi has been defeated by the protesting Pakistan Tehreek-e-Insaf (PTI)-supported candidate Aamir Doggar in by-election of NA-149 Multan, yet KSE’s positive start a good omen for the country’s economy.