KARACHI: Pakistan’s stock market opened in a bullish mood in the morning but the benchmark Index remained range-bound around the psychological barrier of 45,500 points level till the mid-day. The benchmark Index managed to breach through 45,500 points mark after several attempts.
The Karachi Share Index (KSE-100) gained 100.22 points by 11:45am, to 45,550 points as the discounted share prices after a week-long correction observed in the previous week kept investors active in selective buying.
Positive news on the macro-economic front supported investors’ sentiments, the traders and analysts said.
The small and medium level investors are still cautious in investing due to the unclear political situation as well as the spike in COVID-19 infections in the country.
In the last 24 hours, Pakistan recorded 3,495 new COVID-19 cases, the highest in 2021, while 61 lost their lives, according to the latest statistics released by the National Command and Control Centre (NCOC). Most casualties were seen in the province of Punjab followed by Khyber Pakhtunkhwa (KPK).