KSE HITS NEW ALL-TIME HIGH

The pre-election bullish entered seventh day at Karachi Stock Exchange on Wednesday as investors opted for buying fresh position in anticipation of free, fair and peaceful elections in the country where continuous buying by foreign investors set the tone for the locals. The benchmark KSE 100-Index jumped by 1.09 percent or 209.81 points to close at 19,472.55 levels -a fresh all-time historic high- as against 19,262.74 levels (the previous all-time high) recorded on Tuesday as uninterrupted foreign buying helped bulls to take center-stage at the premier bourse in Pakistan.
The KSE All Share Index surged by 0.69 percent or 94.75 points to end at 13,906.94 levels on Wednesday as against 13,812.19 levels reported on Tuesday, the KSE 30-Index was bolstered by 1.42 percent or 209.86 points to conclude at 15,034.77 levels (for the first time in history) on Wednesday as against 14,824.91 levels posted the other day, whereas the KMI 30-Index augmented by 1.1 percent or 367.49 points to finish trading activities at 33,807.12 levels on Wednesday when compared with 33,439.63 levels witnessed in the previous trading session.
The Karachi Stock Exchange began Wednesday’s trading session with strong bullish vibes as during the early trade the main index scampered past 19,300 levels and soon hit the never-seen levels of 19,400 before moving in a narrow range during halfway stage.During the second half, the main index registered hefty buying by foreign investors which propelled it past the historic levels of 19,500 and soon it touched the all-time intraday highest level of 19,515.94 before last-hour profit-taking reduced part of the intraday gains but the key index still managed to close above the 19,400 levels.
Market volumes improved by 78.82 million shares to 252.124 million shares on Wednesday as against trading of 173.304 million shares recorded on Tuesday as hectic buying by foreign investors also filled the local investors with the required confidence to go for a shopping spree.