Karachi Stock Exchange grabs 152 points despite volatility

KARACHI: Local stocks rose on Wednesday with selective buying by investors, while the market remained volatile because of political uncertainty in the country, dealers said.

The Karachi Stock Exchange (KSE) benchmark 100-share index closed 1.09 percent, or 152.14 points, higher at 14142.52 points on turnover of 160.7 million shares.

Earlier in the day, the index reached an intra-day high of 14166.65.
Shares for the Karachi Electric Supply Company and Engro Corp led the surge.

"With Engro, there were rumours in the market that gas supply to its new urea plant will be resumed," said a research analyst. (Reuters)