Market watch: Index crosses 34,000-point barrier
Benchmark KSE-100 index rises 227.82 points
Anticipation of a discount rate cut in the upcoming monetary policy triggered heavy investments. PHOTO: INP
Reinforcing its label as being among the world’s top performing markets in 2014, the Karachi Stock Exchange (KSE) benchmark 100-share index closed at 34,014.26, rising 0.67% or 227.82 points on Monday.
Activity was ked mainly by oil stocks that stabilised after recovery in global oil prices. Anticipation of a discount rate cut in the upcoming monetary policy triggered heavy investments.
Elixir Securities analyst Faisal Bilwani said equities closed with a fresh record as investors cheered positive developments.
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