KARACHI: After taking a breather a day earlier, bulls stormed forward on Wednesday where the KSE-100 index crashed through the strong barrier of 45,000 points and clocked in massive gains of 503 points or 1.13 per cent to climb to 31-month high at 45,153 points.
The index settled at just 40 points short of the day’s high of 45,194 points. Market capitalisation saw addition of Rs95 billion in a single day.
The significant feature of the day was the surprise buying by foreign investors of stocks worth $1.37 million. Among local participants, only companies matched that figure with net purchases of equity amounting to $1.62m.
Investors picked up equities from across the sectors which included exploration and poduction on account of spike in international oil price on the conclusion of agreement among OPEC+ countries.