KSE-100 touches near 4-year high

Staff Reporter

The stock market shed the gloom of previous session on the last trading day of rollover week as the benchmark KSE-100 index rose 335 points, climbing to a near four-year high and surpassing the 47,000-point mark.

The index closed above 47,000 points for the first time since August 3, 2017, when it closed at 47,084. Improving macroeconomic indicators coupled with positive expectations about the upcoming budget overshadowed any negative news flow.

Earlier, the market opened on a positive note. Bears and bulls kept on wrestling during the day and the latter managed to dominate most of the trading. The uptrend accelerated after trading resumed in the second session.

At close, the benchmark KSE-100 index recorded an increase of 335.54 points, or 0.72%, to settle at 47,126.29.

WorldCall Telecom was the volume leader with 381.4 million shares, losing Rs0.24 to close at Rs3.

It was followed by Silkbank with 56.3 million shares, gaining Rs0.06 to close at Rs1.58 and Byco Petroleum with 38.8 million shares, gaining Rs0.27 to close at Rs10.76.

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