KSE breaks bearish spell as institutions go bullish on banks

KARACHI: The banking stocks Tuesday helped Karachi Stock Exchange (KSE) snap a bearish spell and gain a solid 0.99 percent amid improving turnover.

The benchmark 100-Index jumped by 215.62 points to close at 22,080.47 mark.

The market recovered to settle down above the 22,000-point mark with a substantial increase in the number of shares being trade.

According to experts, not only institutional buying in the banking sector helped the market pile up points, but Pakistan State Oil (PSO), Pakistan Petroleum Limited (PPL) and Oil and Gas Development Company (OGDC) also came in handy..

PSO swelled 2.2 percent to Rs270.50 while PPL was up 0.55 percent to close at Rs200.