Bulls return as KSE-100 gains 213 points

6
Staff Reporter
Karachi

Bulls regained control of the Pakistan Stock Exchange on Thursday as the benchmark KSE-100 index snapped a two-day bear run and rose 213 points, aided by a decline in international coal prices.

An overnight dip in global coal prices, which had risen to an all-time high a day ago, proved to be a sigh of relief for local investors and helped revive their interest in cement sector stocks.

A slight recovery in the rupee value compared to the US dollar lent further support to the market, however, selling pressure in oil and automobile sectors capped gains.

Earlier, trading kicked off positively and the KSE-100 index soared close to the 45,000-point barrier after midday. Investors resorted to profit-booking near the end of the session, which wiped off some of the gains.

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