The bull run for the fourth straight day saw addition of 258.76 points to the KSE-100 index which closed at 31,750.38 yesterday,
Investors’ enthusiasm was at a high pitch represented in the volume which was up by 34pc to 244 million shares, from 182m shares the previous day. Trading value increased by Rs1bn to Rs11.5bn.
Banking sector saw brisk trading in 50m shares followed by cement sector 44m shares. Analysts said that the improvement in political and economic conditions was luring investors back to the market despite most stocks having attained their fair values.
“The market was re-rating equities after the recent positive developments,” said a market strategist. The receipt of two IMF tranches worth $1.05 billion, which fattened reserves to over $15bn, improved foreign investors’ outlook on the country going forward.
