Bull run continues as political noise settles
KARACHI: The winning streak at the stock market extended into the third successive day on Thursday when the KSE-100 index mopped up another 222 points (0.5 per cent) to close at 43,581.
Trading was choppy with the market making a positive gap opening mainly on the back of higher international oil prices at $64 a barrel. “Results of T-Bill auction raised hopes of rate hike as banks did not bid in the 6 and 12-month T-Bill auction”, stated Topline Securities.
Market sentiments received a boost from reports of Prime Minister hinting at a one-time amnesty scheme on offshore assets. Investors were also relieved at the conclusion of political protest by the opposition on 17th though the National Assembly criticism of opposition leaders for deriding the parliament kept investors on tenterhooks.