KSE observes bullish trend as index gains 84 points

The Karachi stock market witnessed a bullish trading session on Tuesday on account of institutional buying.

The Karachi Stock Exchange (KSE) 100-share index gained 83.79 points or 0.75 percent to close at 11,264.43 points as compared to 11,180.64 points of the previous session. The KSE 30-share index also increased 83.92 points to close at 10,795.47 points as compared with 10,711.55 points. The KMI 30-share rose 81.97 points to close at 20,322.29 points as against 20,240.32 points. The KSE all-share index closed with a gain of 55.31 points to 7,829.44 points after opening at 7,774.41 points.

Analysts said stocks ended 0.75 percent higher led by buying in National Bank of Pakistan, but in thin volume as flash floods caused by heavy rain in the city kept investors away.

Turnover was very low during the trading session, which they attributed on account of lack of interest among investors spurred by inundation of major road leading to the market.

From: Daily Times