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Business
December 31, 2020
Stock on Wednesday rode high on the back of oil, banking, and technology, as investors, especially financial institutions made the most of attractive valuations ahead of year-end closing, dealers said.
Benchmark KSE-100 shares index gained 0.95 percent or 412.49 points to close at 43,694.76 points at Pakistan Stock Exchange (PSX). Volumes decreased to 455.994 million shares from 503.119 million on Tuesday. KSE-30 was also up 0.77 percent or 138.33 points to end at 18,139.73 points.
Muhammad Saeed Khalid, head of research at Shajar Capital, said the market remained robust, marking an intraday high of 43,751 points. The index tracked world oil markets with mutual funds doing most of the buying, amid expectations of a waiver on import and custom duties on textile raw materials, he said.
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