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Index adds 285 points despite profit-taking
KARACHI: The stock market snapped its three-day losing streak, giving way to a robust rally on Thursday with the KSE-100 index opening in the positive by 410 points.
The benchmark came close to testing the intraday all-time high by climbing to 43,276 points, representing gains of 653 points.
However, the euphoria over the decision by Opec ministers to cut production for the first time in eight years resulting in a 10 per cent rise in international oil prices soon simmered down.
Investors decided to take profit at such high levels, which pulled the benchmark index down. But it still closed with gains of 284.99 points (0.67pc) at 42,907.36 points.