KARACHI: The Karachi Stock Exchange (KSE) 100-index has gained 531.08 points in weeklong trading as it opened at 29513.73 points on Monday and closed at 30044.89 points on Friday. The KSE witnessed bullish trend most of the days, despite month long sit-ins, protests, clashes and political unrest in the federal capital, and flood.
The first day of trading, Monday, was good for Karachi Stock as it gained 71.82 points to reach 29,585.60 on positive hopes from prevailing political rift.
On Tuesday, the market opened on an upbeat note and rose by 143.31 points to take the stocks benchmark KSE-100 to 29782.91 points. The KSE, all over the day did not go down the opening level, which seemed that bulls were fully in command.
Unlike bullish trend in first two days of trading of the week, the KSE-100 index plunged 37.60 points to reach 29691.31 points on Wednesday, as the investors showed discomfort due to political uncertainty in capital and flashes flood.
The Karachi Stock Exchange (KSE) 100-index scored 167.06 points to reach 29858.37 mark on Thursday as the representatives of government, PTI and PAT hoped the resolution of current political unrest soon.
Political standoff has caused some panic among the investors while flood related anxiety caused slow activity at the market.
The KSE 100-Index gained 169.69 points to reach 30028.06 on Friday as the opposition jirga, mediating between the government and the PTI and the PAT, presented “the best possible formula” to end the month-long political standoff.
Financial experts were of the view that confusion prevailed in the stock market as uncertainty still hovered over the political horizon despite ongoing talks between the government and Pakistan Tehreek-e-Insaf chief Imran Khan.