Karachi: The Karachi Stock Exchange (KSE) index Wednesday crossed an all-time high of 36,000 points today, the first working day after Eid holidays, as investors were looking for fresh stocks to invest in chemical and banking sectors.
The KSE did whirlwind business today opening after the five-day Eid holidays and closed at an all-time high with the benchmark 100-share index going up by 0.47 percent, or 169.02 points, to close at an all-time high of 36,056.68 points.
Market analysts said the high trading was mainly due to fresh buyings by investors looking for fresh stocks to invest in.
Investors are anticipating better earnings after Eid and there was lot of investment in the chemical and banking stocks, Ali Rizwan of Capital investments said.
He said the traded volume rose 3 percent to 621 million shares, while traded value increased by 17 percent to 16.5 billion rupees.
Arif Habib Corporation Ltd rose 4.99 percent, while Engro Corp Ltd, Engro Fertilizers Ltd and Fatima Fertilizer Co Ltd gained 1.89 percent, 1.16 percent and 4.35 percent respectively.
Banking stocks also showed an average upward graph by around five percent. Overnight rates in the money market fell to 6.50 percent from previous session's 7 percent.