Bulls lift KSE by 543 points to untested height of 21,502

KARACHI: The local equities market on Tuesday witnessed aggressive buying from traders and institutions, lifting the benchmark KSE 10-share Index by a staggering 543 points to a new record level at 21,502

Following a sluggish day on Monday, the Karachi Stock Exchange (KSE) opened upbeat today and remained bullish throughout the session.

The capital market analysts site positive expectations of the businessmen and investors from the incoming government to steer the country out of energy crisis as a major reason behind the bullish activity at KSE.

The KSE 100-share Index has registered a surge of 24 percent in the course of the ongoing fiscal, emerging as one of the best performing capital markets of Asia. Foreign investment of over 359 million dollars into the local stocks during the past five months said to be one of the main factor responsible rally.

It is pertinent to mention here that, throughout the year of 2012, the market had only attracted a foreign investment of 125 million dollars.