KSE-100 bounces back above 40,000 levels

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Amanullah Khan

Karachi—KSE-100 Index, which had plunged below 40,000 levels with decline of 569 points in the previous trading session managed to regain above 40,000 levels with a recovery of 363 points to close in green at 40136 levels here Thursday. In fact at one stage the index not only fully recovered the lost levels but it was on an all time high the selling pressure for profit taking amid impressive market volumes of 659 million shares however closed above the psychological barrier of 40,000 levels.
Among the top performers in terms of volumes were including PACE Pakistan with a trade volume of 54 million shares to their credit while, WorldCall 50.10 million shares and K Electric 50.05 million shares respectively. The international oil prices facing a drop for the last two trading sessions extended gains to $45.60/bbl in previous session after US crude oil inventories data showed a decrease of 6.2mnbbl as compared to a buildup of 3.4mnbbl.