Bulls hold ground as KSE-100 crosses 32,000 mark
Statesman Report
KARACHI: The benchmark KSE-100 index extended gains on Friday and ended up nearly 196 points in volatile trading as investor sentiment remained upbeat despite a decline in international oil prices.
The positive activity came on the back of currency stability as Pakistani rupee recovered Rs0.71 against the US dollar on Thursday, coupled with a rise in Asian markets.
The Economic Coordination Committee (ECC)’s approval of a Rs300-billion package to bail out the power sector led to a steady rise in stocks of the sector.
Oil stocks were, however, battered throughout the session following a massive dip in global oil prices.