Market watch: Despite political uncertainty, stocks rise
Benchmark KSE-100 index gains 196.51 points to settle at 46,160.78
PHOTO: AFP
KARACHI:
The stock market extended its gains for the second consecutive day on Wednesday as the benchmark KSE-100 index rose nearly 200 points and crossed the 46,000-point mark.
Investors seemed to be ignoring the political uncertainty ahead of the crucial Senate vote and cautiously took fresh positions. The bull-run came on the back of strong investor sentiment, which fuelled buying interest post-corporate earnings season.
Improved cement sales data, with sales growing 1.98% to 4.577 million tons in February 2021 as compared to 4.489 million tons in February 2020, and surging crude oil prices in the international market lent support to the stock market.
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