KSE-100 index quantum jump, gains 1140 points

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Panama verdict boosts trust of investors

Amanullah Khan
Karachi

The trading session concluded with a hefty gain of 1140 points concluding the KSE-100 Index in green at 48,743 levels which seems to have enhanced the confidence of the investors after the judgment in PANAMA case by the Supreme Court of Pakistan. Brushing aside the political noise and uncertainty the market players welcomed the formation of a joint investigation team that would further probe allegations of money-laundering against Sharif Family.
During the trading session the KSE-100 Index added over 1,900 points in intra-day trading, registering an increase of close to 4% however the index remained positive with 1140 points gain at the close of the day yet amid improved market volume of 408 million all shares.
K Electric remained at top as volume leader of the day with a trade of 29 million shares to its credit while two other top performers in terms of volumes were including Engro Polymer and TRG Pakistan with trade volumes of 27 million and 20 million shares to their credit respectively. Out of a trade in 371 companies shares, 305 were the gainers, 66 losers and shares of 12 companies remained unchanged.