KARACHI: Led by fertilizers, Karachi Stock Exchange (KSE) on Wednesday bounced back from a depressing 9-month low recovering by 276 points on the heels of a global rebound.
The benchmark KSE-100 index scooped up somewhat 2 percent jumping by a hefty 276.37 points to reach 11,311.29-point mark before the traders called it a day.
Analysts attribute this boost to a volte-face trend-change in the world markets, which suffered a setback a day earlier. Energy stocks also fueled the rally, they added.
On the other hand KSE-30 Index also nailed 297 points to close at 10,704 points.
Total trade volume was around 60.76 million where Soneri Bank shares changed most hands going up by Rs0.8 to reach Rs4.
Pundits say this rally would not lose steam before two days.
Deemed as lucrative, fertilizer stocks sold like hot cakes as their corporate results are drawing near. Among top fertilizer companies, Engro Corp results are due on Friday, which explains its gaining 4.99 percent to reach Rs129.76.
The benchmark KSE-100 index scooped up somewhat 2 percent jumping by a hefty 276.37 points to reach 11,311.29-point mark before the traders called it a day.
Analysts attribute this boost to a volte-face trend-change in the world markets, which suffered a setback a day earlier. Energy stocks also fueled the rally, they added.
On the other hand KSE-30 Index also nailed 297 points to close at 10,704 points.
Total trade volume was around 60.76 million where Soneri Bank shares changed most hands going up by Rs0.8 to reach Rs4.
Pundits say this rally would not lose steam before two days.
Deemed as lucrative, fertilizer stocks sold like hot cakes as their corporate results are drawing near. Among top fertilizer companies, Engro Corp results are due on Friday, which explains its gaining 4.99 percent to reach Rs129.76.
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