KSE index surges 186.33 points
Friday, 18 June 2010
KARACHI, June 17 (Business Recorder): Healthy activities were witnessed at the local bourse Wednesday on the investors' expectations over positive outcome of the meeting on the issue of Capital Gains Tax that the government's steps to reduce circular debt.
"After a positive opening the local investors took fresh positions aggressively on rumours regarding deferment of CGT for a certain period", analysts said.
The prime minister's announcement regarding payment of PSO dues to reduce circular debt was another positive development to attract fresh buying at the local bourse. The foreign investors also remained active with net buying of $0.76 million. The benchmark KSE-100 index surged by 186.33 points and close at the level of 9,436.88 points.
After opening positive the index hit 9,482.05 points intra-day high, up 231.50 points.
"After a positive opening the local investors took fresh positions aggressively on rumours regarding deferment of CGT for a certain period", analysts said.
The prime minister's announcement regarding payment of PSO dues to reduce circular debt was another positive development to attract fresh buying at the local bourse. The foreign investors also remained active with net buying of $0.76 million. The benchmark KSE-100 index surged by 186.33 points and close at the level of 9,436.88 points.
After opening positive the index hit 9,482.05 points intra-day high, up 231.50 points.