KSE-100 index fluctuates, then posts massive gains

KARACHI: Stock market posted significant fluctuations soon after opening on Monday. Previously, on Friday, the benchmark KSE-100 index had posted impressive gains of nearly 500 points early in the morning.

On Monday, the KSE-100 opened at 53,123.03 points, and quickly catapulted to 53,380.64 points within half an hour. However, the index showed fluctuations after that, deteriorating to the lowest of the morning at 53,166.85 points before recovering to 53,289.17 points.

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However, by noon, the Pakistan stock exchange index had comfortably climbed to 53,577.17 points, showing a 421.54 points increase above opening level.

Towards the afternoon, Karachi stock exchange index showed even more improvement today, as it had gained nearly 700 points to hover around 53,821.17 points.

By 3 p.m. approximately 250 million shares had traded hands showing improvement investment confidence in the stock market.

Companies from numerous sectors were seen among the top leaders of the hike, showing an overall improvement in the investor confidence, independent of any sector.