KSE stands fast during week

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KARACHI: Karachi Stock Exchange (KSE) had a bullish week as its benchmark 100-Index crossed 12,600 points, Geo News reported Saturday.

Market managed a green opening on Monday, which stood somewhat strong through the week even in the face of rumours regarding a cut in the discount rate, but fell to the rising Pak-US tensions. As a result profit-booking ensued.

By the end of the week 100-Index had gained 254 points to close at 11, 607 points.

Average volume went up by 70 percent to stand at 700 million shares.

Fauji Fertilizer Bin Qasim turned out to be the most traded scrip.

KSE-30 Index before closing reached 11,096 points with a weekly gain of 179 points.

This rollercoaster ride is likely to last for some more sessions, analysts said.