KSE-100 index gains over 950 points in intra-day trading
KSE-100 index gains over 950 points.
KARACHI (Dunya News) – The stock market witnessed a major boost on Wednesday as KSE-100 index jumped over 950 points and recovered to nearly 36,000 points in intra-day trade.
Significant buying comes following confirmation by high government officials that they are working on creation of the market support fund. The fund, which is aimed at stabilising the stock market, is anticipated to be launched soon.
The Pakistani rupee also gained 32 paisa against the US dollar in the interbank market, and is being traded at Rs149.90.
According to analysts, overseas Pakistanis are sending huge amounts of remittance ahead of Eid-ul-Fitr to their families and relatives — boosting the supply of dollars in the open market.
Let it be known that since the beginning of this fiscal year, the rupee has lost more than 21pc of its value to the dollar.
