KSE hits new peak at 30,000 points

KARACHI: The prices of equities surged at Karachi Stock Exchange (KSE) as its benchmark KSE 100-share Index shot up beyond the psychological barrier of 30,000 points on Thursday.

The KSE 100 Index witnessed a massive gain of 400 points to close at 30,177, as the stock market remained upbeat throughout the trading session today.

According to investors, the market capitalization swelled by whopping Rs77 billion in a single day’s trade as the ongoing buying spree picked up further momentum today.

Analysts say Moody’s forecast of Pakistan’s positive economic outlook besides investment of over 300 million dollars since July 1 by the foreign investors pushed the stock market to the new peak.