KSE index gains 97.29 points
Friday, 1 January 2010
KARACHI, Dec 31 (Business Recorder): Healthy buying was witnessed at Karachi share market Wednesday and the KSE-100 index surged by 97.29 points to close at 9,507.95 points.
"The federal and four provincial governments for distribution of national resources and signing of seventh NFC Award encouraged the investors to take fresh positions on the second last session of the year 2009", analysts said, and added that expectations over good financial results also attracted fresh buying at the local bourses.
The market opened on a positive note and the index hit 9,561.34 points intra-day high, up 150.68 points. However, profit taking in some select stocks in late hours minimised the gains.
"The federal and four provincial governments for distribution of national resources and signing of seventh NFC Award encouraged the investors to take fresh positions on the second last session of the year 2009", analysts said, and added that expectations over good financial results also attracted fresh buying at the local bourses.
The market opened on a positive note and the index hit 9,561.34 points intra-day high, up 150.68 points. However, profit taking in some select stocks in late hours minimised the gains.