KSE springs back to buoyancy

Karachi Stock Exchange (KSE) at the onset of the trading week today went buoyant and upbeat spurred by the news of Moody’s retaining Pakistan’s rating at B2, which saw the KSE-100 index soared by 262 points and wrapping up at 10172. Today’s trade, which already began upbeat, got further dynamic later with Moody’s improved rating of Pakistan’s economy, sending the major Index up by 300 points. Financial institutions and major brokers also joined in the melee of buying shares, which they found quite attractive at their earlier slump-hit low prices. But later at the closing, the investors preferring profit taking backtracked to selling that resulted in index failing to sustain the 10200 marks.Turnover today aggregated to 121.9 million shares. Volume leader NIB Bank shares rising by Rs0.09 closed at Rs9.12. Among other companies, D. G. Khan cement increased by 0.89 closed at Rs48.98, while OGDCL soared by Rs4.45 closed at Rs111.60