KARACHI: The first day of the year set the first milestone for the stock market on Tuesday as it surged more than 900 points in a decent rally.
Bullish sentiments ruled the market as soon as exchanging started and the file stayed in a positive area for the whole day. Stocks staged a sharp recuperation in the midst of speculation after China’s responsibility to loan $2 billion to support Pakistan’s sliding rupee as well as decrease in oil based good prices by the administration.
Toward the finish of exchanging, the benchmark KSE 100-share Index recorded an increase of 929.10 points or 2.51% to settle at 37,995.77.
JS Global analyst Maaz Mulla said the stock market respected the new year with a bull run where the KSE-100 record hit an intra-day high of 980 points. He said exchanging volumes, nonetheless, stayed subdued and just 97 million shares changed hands amid the day.