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KSE 100-share Heading Towards Recordbreaking 15,000 Points Level

The KSE 100-share index yesterday maintained its upward drive for the third session in a row as investors were not inclined to miss the rising market and capital gains.

It finished with an extended gain of 187.83 points or 1.32 per cent at 14,324.95 as compared to 14,137.83 a day earlier.Its junior partner,30-shares index on the other hand rose by 271.67 points at 17,220.75.

Over the last three sessions, it has risen by 3.25 per cent, adding Rs118.00 billion to the market capital to 4.420 trillion, a hefty increase in three session viewed by any standard, anlysts said.

Massive rise of Rs19.00 in MCB followed by GDR-linked buying and other leading base shares, notably National Bank, OGDC, PTCL and Bank of Punjab were the chief contributors to the current index rise.

MCB alone has the largest weightage 11 per cent in it and adds significantly to its rise in a single session,more than a half than the combined.

"A section of foreign investors is in the market and making selective covering purchases on the banking, oil and some other counters at the current lower levels," analysts said "but failed to pinpoint any specific reason behind the revival of foreign demand." via Khaleej Times

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