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Registration date : 2014-10-22
|Subject: Closing: KSE-100 recovers 160pts, up 0.52% as PTI calls off countrywide protests Thu 18 Dec 2014, 12:55 pm|| |
KARACHI: The Karachi Stock Exchange benchmark KSE 100-index gained 160.31 points or 0.52 percent to reach 30827.45 points and volume of 126,783,920 shares on Thursday as market gained confidence from reconciliation between Pakistan Tehreek-e-Insaf and government.
The Karachi Stock Exchange which has been volatile so far in this week, bounced in a confident manner and gained 402.47 points or 1.31 percent to climb up to 31069.61 percent from the overnight closing 30667.14 points in early trading on Thursday.
The market opened at the overnight closing of 30667.14 points and steadily started upward journey to recover losses it had suffered over the past three days. The KSE gathered momentum and made considerable gains in quick session to boost the investors’ confidence.
On Wednesday, benchmark KSE-100 fell in a short session by 209.14 points to close at 30,667.14 points level on Wednesday amid concerns for weak earnings outlook in oil sector after Crude oil prices broke below $55/barrel.
Countrywide shutdown to mourn deaths in Peshawar, reports for cut in local cement prices and concerns for heavy circular debt in energy sector played a catalyst role in bearish activity at bourse.
As a whole 32.73 per cent of companies witnessed increase in their shares while 22.53 per cent lost their share value and 3.95 percent companies remained stable.
High and Low were 31152.94 and 30667.14 respectively. Total volume traded in the market was 126,783,920 shares.